Basis stepup and Trusts

Ron Rosenfeld · 2009-02-02T03:25:05+00:00

It has been suggested that my wife and I put most of our variouspossessions into a trust.However, myself and an unrelated partner are joint owners of two officecondominiums which we lease, and from which we derive a nice income. Wedon't yet (due to laziness) but have been considering entering an agreementto buy out the others interest in the event of death.But if the trust owns my share of the property, wouldn't the trust then beliable for taxes on the profits from that sale? And couldn't that beavoided if the property were not in a trust, but my wife inherited itdirectly?Thanks.--ron

Feb 02, 2009 20 Replies

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Ron Rosenfeld 17 years ago

Thank you all for your responses.

A number of factors are becoming more clear.

I guess I will prod my attorney to move a bit faster on this.

--ron

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Basis stepup and Trusts

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