What is the name of your state (only U.S. law)?Alabama
QT 1-- Upon death of 1 st spouse , stock held individually in deceased spouses name enters the trust and receives a step up ( I assume ) .
Trust language is as flexible as law allows and can be used by surviving spouse . Surviving spouse years later realizes stock has appreciated considerably and desires to withdraw stock without selling it , retitles it so that when survivor dies the stock can be stepped up again at their death...for the benefit of their children .
Can this be done ?
Must stock be sold instead ? for assets to come out ?
Qt 2-- Both spouses die and son is trustee of the GST . Am I correct that if stock remains within trust , it will not be stepped up at his death . But son sees the benefit of withdrawing stock , retitling it in his name and upon his death the stock is stepped up .
Am I dreaming ???
Thank YouWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
QT 1-- Upon death of 1 st spouse , stock held individually in deceased spouses name enters the trust and receives a step up ( I assume ) .
Trust language is as flexible as law allows and can be used by surviving spouse . Surviving spouse years later realizes stock has appreciated considerably and desires to withdraw stock without selling it , retitles it so that when survivor dies the stock can be stepped up again at their death...for the benefit of their children .
Can this be done ?
Must stock be sold instead ? for assets to come out ?
Qt 2-- Both spouses die and son is trustee of the GST . Am I correct that if stock remains within trust , it will not be stepped up at his death . But son sees the benefit of withdrawing stock , retitling it in his name and upon his death the stock is stepped up .
Am I dreaming ???
Thank YouWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?