Carryover Basis: The Essentials

Ronald D. Aucutt is the leader of McGuireWoods’ private wealth services group. He concentrates on planning and controversy matters involving estate, gift, and generation-skipping transfer taxes; income taxation of trusts and estates; rules regarding tax-exempt organizations and charitable contributions; and related tax issues. He has extensive experience advising clients on the transfer of wealth from one generation to another, including the orderly and tax-efficient succession of family owned businesses. He has contributed to the formation of estate tax policy through legislation since 1976, as well as in Treasury regulations, and has served as an expert witness in estate and gift tax matters.

Charles D. Fox is a partner at the Charlottesville, NC office of McGuire Woods. His extensive experience includes estate planning and administration, and charitable organizations. He works with clients regarding planning for families with closely held businesses, including ownership succession issues; the use of family limited partnerships, limited liability companies, and other techniques to transfer wealth at significantly reduced transfer tax costs; and counseling on the appropriate uses of family offices.