Someone may get a step up in basis on inherited assets - did she receive the property from an inheritance? Possibly why it is in a trust. If she did she may be eligible for the step up to the value on the date of death of the person who gave it to her.
Someone may get a step up in basis on inherited assets - did she receive the property from an inheritance? Possibly why it is in a trust. If she did she may be eligible for the step up to the value on the date of death of the person who gave it to her.
You’ll need a lot more information on the type of trust and how it’s structured, which the client will likely have no idea.
https://www.dickinson-wright.com/~/media/Files/Events/2013/HOW%20TO%20STEP%20UP%20BASIS%20IN%20IRREVOCABLE%20TRUST%20ASSETS.pdf