Subject: Re: America's War Industry
This vs distributing the entire estate all in one year and the estate paying a gigantic tax bill in that year.

Yes. But whatever is metered-out is taxed. Though it might be interesting to have a payout scheme similar to RMDs. Hmmmm...not a bad idea. We'd have to work out the details. In my case, the assets will be transferred into our trust (revocable). Probably next year. Need to talk to the accountant who handled mom's trust taxes. With a stepped-up basis, we won't owe much taxes. But, realistically, we really should have been required to. The stepped-up basis is just a give-away for people that have unrealized gains on assets (i.e. mostly the more well-off folks).