[WSBAPT] Step-up in basis question

[Heather de Vrieze]

With no other evidence that this is not separate property, the answer is, YES. One Hundred Percent of community property receives a step-up in basis. Holding it in a trust doesn’t change the community vs. separate nature of the property.

Heather

Heather S. de Vrieze
Attorney-at-Law
[cid:image001.jpg at 01D8EF99.03359E70]
3909 California Avenue SW
Seattle, WA 98116-3705
(206)938-5500
heatherd at westseattlelaw.com<mailto:heatherd at westseattlelaw.com>
www.westseattlelaw.com<http://www.westseattlelaw.com/>
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Ann Manley
Sent: Thursday, November 3, 2022 3:05 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Step-up in basis question

If title to property is held as "Bill and Sue, Husband and Wife", and deeded into a revocable living trust ("Bill and Sue, H&W" to "Bill and Sue, co-trustees of Living Trust"), will the entire property receive a step-up in basis upon the first to die?

Ann Manley, Esq.
The Manley Law Firm, P.S., Inc.
PO Box 16324
Seattle, WA 98116
(206)292-3064 / (206)292-3914 fax
www.manleyfirm.com<http://www.manleyfirm.com>

The Manley Law Firm practice areas include Bankruptcy*, Estate Planning, Auto Accidents, Civil Litigation, Construction, Commercial and Contract Law, Employment Matters, Personal injury, Small Business, Unemployment Claims, Wage Loss and Compensation claims

* The Manley Law Firm is a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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