There are certain tax rules to keep in mind regarding transfers of wealth. They will impact how much beneficiaries receive and influence the inheritance strategies families implement."Millennials and Gen X will inherit the largest share of that, with Gen Z following after," he said. "These generations think about money differently than baby boomers did; more emphasis on flexibility, experiences, and in some cases, sustainability, and that will shape how this wealth transfer plays out in the economy."Kautzma ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Managing your taxes can be one of the most complex aspects of estate planning and a new IRS rule change continues that trend. The rule, published at the end of March, changes how the step-up in basis applies to assets held in an irrevocable trust. If you need help interpreting the IRS rule change or setting up your estate, consider speaking with a financial advisor. What Is a Step-Up in Basis? When some ...