Last updated: 2026-07-06
Case-study issue
A family held roughly $20 million of concentrated, low-basis assets with about $17 million of unrealized gain. The old plan depended heavily on which spouse died first and which assets received basis adjustment.
The planning review treated basis as an estate planning issue, not only an income tax issue. Attorney-led trust and ownership alternatives were evaluated so the family could reduce the timing bet and understand what would happen before a sale or transfer.
Why it matters
For real estate families, low-basis property can become the silent driver of the estate plan. The wrong structure can preserve legal documents while leaving the family with a poor tax outcome.
Planning checks
- Which assets carry the largest unrealized gain?
- Does the current plan depend on the wrong spouse dying first?
- Are ownership, state law, trust terms, and basis planning aligned?
- Can the CPA and attorney compare outcomes before assets are sold or transferred?
JPOPE planning lens
The family should not discover the basis answer after death or sale. Concentrated assets need a scenario review while planning choices still exist.