March 2022 Lunch Meeting

Date: Tuesday, March 22, 2022
Time: 11:30am - 1:00pm
Location: UT Club - 2108 Robert Dedman, Austin, TX
Speaker: Matthew S. Beard, J.D., LLM

Topic:  Curing Basis Discrepancy: Exercise of Substitution Power

This presentation examines drafting and reporting considerations for the exercise of a grantor’s power to substitute appreciated property of a trust for other property of equivalent value, such as the grantor’s secured promissory note, so that appreciated property held by the grantor at death receives a step-up basis under IRC § 1014, thus curing the discrepancy between IRC § 1014 and IRC § 1015.

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