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Estate Planning >> Trusts & Living Trusts >> Full step up in basis having a joint living trust
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| Discussion: Full step up in basis having a joint living trust | - |
Judy (Offline)
UNITED STATES |
| Joined 12 Jun 2022 2:42 pm
3 posts
Unrated |
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Judy (Offline)
UNITED STATES |
| Joined 12 Jun 2022 2:42 pm
3 posts
Unrated |
My husband & I live in California. We have a revocable joint living trust. Our residence holds title as "husband and wife". When one spouse dies, will the surviving spouse get the full step up in cost basis?
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| Joined 26 Jan 2022 1:01 pm
144 posts
9.6/10 Rating |
Dear Judy,
It depends on how the property is held. If you and your husband are joint tenants with right of survivorship, you will get the entire property as a sole owner after his death.
Best regards,
Legal Helpmate Corp.
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Judy (Offline)
UNITED STATES |
| Joined 12 Jun 2022 2:42 pm
3 posts
Unrated |
We have transferred title into the revocable joint living trust. Will the surviving spouse still get the full step-up basis?
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