[WSBARP] Step-Up in Basis Upon Conveyance

[Mark Anderson]

Dear All:
My Clients periodically ask questions about the step-up in basis on prospective transfers of real property.  Normally these involve intra-family transfers (between parents and their children, family trusts, etc.).
For the following scenarios, will the recipient receive a step-up in basis?
Transfer prior to death by gift.  [My understanding is that there is no step up in basis.]
Transfer prior to death as a distribution under the terms of a trust agreement.
Transfer prior to death as an advance on inheritance (either by existing will or anticipated intestate succession).
Transfer at time of death pursuant to the terms of a will.  [My understanding is that the recipient receives a step-up in basis.]
Transfer at time of death pursuant to the terms of a trust agreement.
Transfer at time of death pursuant to a transfer on death deed.
In advance, thanks for your help here.
Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
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