What is the name of your state (only U.S. law)? Michigan
Dredging up from memory here:
When a person dies, and their stock is in trust, does the new basis become what the value of the stock is on date-of-death? Everything has rolled from a social security number to an EIN number.
If that stock is sold: if the stock was considered long-term stock, will it still be long-term if it is not held for a year past death?
Same question involving the house that was also in the trust. Is now the new basis based on the appraisal from date-of-death?
Seems to me that is the case, but my memory isn't too hot these days. Trying to figure out how to get everything paid; it's not exactly a stellar market right now for stocks or real estate.