“I found out that my spouse's "half" becomes my inheritance at a stepped up value. I intend to sell that half to help fund my grandchildrens' upcoming college education.”
I’m not an expert, but I don’t think the shares are separated in a joint account such that you could sell the deceased spouse’s shares as fully stepped up. My understanding is that for shares of a particular company or fund they would all be stepped up, but only by 1/2 of the appreciated value.
Note that the rules are different in community property states.
I’m not an expert, but I don’t think the shares are separated in a joint account such that you could sell the deceased spouse’s shares as fully stepped up. My understanding is that for shares of a particular company or fund they would all be stepped up, but only by 1/2 of the appreciated value.
Note that the rules are different in community property states.
Statistics: Posted by OnTrack — Sat Nov 02, 2024 12:30 am — Replies 14 — Views 785