This might be a living/revocable trust that became irrevocable at death (thus generally getting a new tax basis). Or perhaps the next most likely scenario is that this was an irrevocable trust for Medicaid eligibility which are often designed to get a basis adjustment even though being irrevocable, such as by retaining the power to designate the remainder beneficiaries.
Shouldn’t take a qualified professional long to look at the trust and tell you the answer. Maybe as little as 1 minute if this was a revocable trust that your prior counsel would have already reviewed.
Shouldn’t take a qualified professional long to look at the trust and tell you the answer. Maybe as little as 1 minute if this was a revocable trust that your prior counsel would have already reviewed.
Statistics: Posted by Joey Jo Jo Jr — Mon Dec 23, 2024 12:55 pm