While you may never need to worry about forking over an estate tax payment to the federal government, there is a financial trap hidden within your estate that could bite you big time.
Spend a few minutes with the following example to see where you could get tripped up by a simple mistake that could cost you thousands.
A relevant example
Assume you purchased shares of stock in 1980 for $1,000. Now, 40 years later you decide to pass your shares of stock, which are now worth $10,000, to your child. But when is the best time to transfer your stock shares to your child? Here are your two choices: