A Trust provides for a stepped up basis.
https://youtu.be/VjTntCqd9gU?feature=shared
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That document explained how preferential tax rates on long term capital gains, and stepped-up basis for inherited assets, contributed to wealth inequality.
These related to the two main provisions of the draft legislation targeting intergenerational wealth hoarding.
The draft legislation did not include a major expansion to a tax loophole for the rich
https://home.treasury.gov/policy-issues/tax-policy/revenue-proposals
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#inequality #SteppedUpBasis #taxes #CapitalGains #IntergenerationalWealth
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