MSU Extension Release New MontGuide on Differences in Basis of Inherited and Gifted Property
February 9, 2022
Property owners have several decisions to make when it comes to estate planning, and one of those is whether to give property to heirs before or after death. Montana State University Extension has released a new MontGuide that gives information on how to approach that choice.
According to university educators across Montana, it is important to consider the income tax consequences of the timing of gifts to family members because the state eliminated the state inheritance tax in 2001. Now the federal estate tax only impacts individuals with estate values at more than $12.06 million or married...