Stepped up Valuation on spouse’s death
My wife died last year, our home was in her living trust with me as benificiary. will the new value of our home be stepped up to the date of her death?–the FULL value, not 1/2 ???
I hadan appraisal mde as of the date of her death, is that enough documentation, as well as re-registering the deed as me being sole trustee of her trust. ?
Terry Says
You need to talk to your estate planning attorney about this. The question is whether the house was in her SEPARATE trust, and titled in teh name of the trust. I’m assuming that you are not only the successor trustee, but also the beneficiary.
If all was done correctly, and this was HER RLT and you were not a CO-trustee (as opposed to Successor Trustee), then the entire house should get the stepped up value for the beneficiary who receives the house.
