Dave Ramsey

So let's recap because we were talking gobbledygook there for a minute.

When someone has paid $22,000 for a stock that's worth a million dollars, if you transfer it, if you cash it out, obviously before you die, you pay taxes on the difference, the gain.

If instead it passes to your heirs,

They pay taxes on the difference in market value and whatever they sell it for.

And if you sell it within six months of death, it is presumed to be market value by the IRS.

So zero taxes on a million-dollar gain at death or taxes on everything over $22,000 on a million bucks.

So basically a million-dollar gain is a $150,000 swing in taxes.

If they...

two brothers receive this money with the stepped up basis to market value, they have no taxes upon dad's death.

But if the stupid thing goes in half before then, you'll wish you had paid some taxes.

And that's kind of what he's weighing out and what we were weighing out with him.

But yeah, it comes down to how much faith do you have in that particular company to stay stable?

And how much faith do you have in, sadly, dad's health?

I mean, that's being very callous.

But that's the mathematical analysis.

And then you've got to cry a little bit and have your heart in that and say out loud, this is an awkward discussion, weird to talk about.

But it's weird for me to sit down with my whole family and go over my estate plan once a year.

If I die, wait a minute, people, I'm still sitting here.

But if I die this year, this is what is going to happen.

If Dave dies this year meeting, it's very awkward.