Unless a couple has assets in excess of five million dollars, estate taxes are no longer a concern for Ohio residents. This is because Ohio has done away with its estate tax, and the Federal estate tax exemption is now over five million dollars. For such couples, the new estate “tax” planning is income tax planning. The income tax planning includes allocating assets between the couple to take advantage of the step up of basis on each of the individuals passing in order to minimize any capital gains taxes due.