It depends on your age, health, carrying costs, and estate size. If you are elderly with a short projected holding period and high appreciation, holding may save hundreds of thousands in capital gains tax. But if annual carrying costs are significant, your estate exceeds the NYS exemption triggering the cliff, or you need liquidity now, selling during life may produce a better overall financial outcome for your family.
From the seller playbook: Estate Planning Integration
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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