Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Has the Angel of Death Tax Loophole been closed in Philadelphia?

Posted on Tue Sep 1, 2015, on Estate Planning

From our “Ask a Question” Mailbag: Angel of Death Tax Validity Philadelphia

Most Recently Updated July 20, 2018.

“Is the Angel of Death tax loophole still exist?”

Angel of Death Tax Validity Philadelphia

Angel of Death Tax Validity Philadelphia

No, the Angel of Death Tax Loophole continues to exist, even though presidents from JFK to Obama have asked for it to be closed. In short, the Angel of Death Tax Loophole refers to all capital gains in an estate being forgiven at a person’s death. For more details, see my previous article here.

So, if someone dies with stocks worth $100,000 for which they paid $20,000, the heir can sell the stocks for $100,000 and pay no capital gains taxes. This is a huge tax savings for clients with low basis assets.

More Planning Questions?

The angel of death loophole is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: Angel of Death Tax Validity Philadelphia

I hope that this article was helpful in explaining the angel of death loophole. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

Tags:

Death taxes, Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, Pennsylvania, Phila, Philadelphia

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Christopher F.

Peter explained things in a way that was easy to understand. Everything was done in the time frame he said it. Could not have been better!

Klenk Law Logo
Stars

Brian M.

Peter explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.

Klenk Law Logo
Stars

CHARLES TOLL

Excellent, knowledgeable team handled a complicated issue with superb results.

Klenk Law Logo
Stars

Kevin K.

I was referred to Peter after my divorce to put documents together to protect my assets. He suggested a number of documents that would help protect my children and their future. Also, he put together wills, power of attorney and living wills. I initially spoke with him on the phone, he took 30-40 minutes to understand my situation and explain the benefits of having such documents. After a week or two, I met with him in his office and signed the documents. Everything else was remote phone calls and emails. He re-explained these documents and what whom to share. I am in good hands.

Klenk Law Logo
Stars

Ronald W.

Peter and his staff are very responsive and always willing to help my clients and in a cost efficient manner.

Let us put our expertise to work for you.

Free consultation within 24 hours.