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My wife died recently and we are both trustees in a rev family trust.NOW THAT SHE DIED DO I HAVE TO CHANGE THE COST BASIS ON THE STOCKS THAT WE OWNED IN THE TRUST OPEN HER DEATH ?
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Estate Litigation Attorney serving Redlands, CA
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Price Law Firm, APC
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I'm sorry to hear of your loss. There are trust administration matters to take care of when a trustee/settlor passes. Included in those duties would be to adjust the basis of all assets transferred due to the death to fair market value at the date of death.
Answered on Apr 21st, 2016 at 9:55 AM