Experts say Jobs’ heirs should sell stock now

Steve Jobs’ widow may never find a better moment to sell her late husband’s $6.78 billion worth of Apple and Walt Disney Co. stock, the San Francisco Chronicle reports. That’s because under federal law, Jobs’ heirs can sell the stock and avoid $867 million in capital gains taxes. And if Apple’s late co-founder left his estate to his wife, Laurene Powell Jobs, the family won’t be liable for the 35% estate tax until she dies or gives the money to others, according to estate planners. “I can’t see any reason not to sell all of it,” says Kacy Gott, chief planning officer at the wealth-management firm Aspiriant, whose clients have assets totaling as much as $100 million. “They should have been looking to diversify years ago.” Jobs’ heirs should sell some stock to reduce the estate’s risks, says Joyce Franklin, a San Francisco financial planner who works with high-tech executives. Making sales more attractive: The capital gains tax is set to rise to 20% in 2013 from the current 15%, and high-income Americans will also be subject to a 3.8% levy on unearned gains. Jobs owned 138 million Disney shares, valued Monday at $4.74 billion, and 5.55 million Apple shares, worth $2.05 billion, according to filings. Proxy statements show Jobs moved his holdings into trusts as his health worsened. Trusts let people distribute wealth over time and avoid probate fees. Read the full story here.