Should I take an inheritance in cash or In Kind?

Forum|Forum|2 years ago
April 17, 2023
1 reply
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What do I need to know to make the best decision? I will be receiving 1/4 of the trust after taxes are paid. Can each of the 4 of us decide independently whether to take it in cash or "In-Kind"?

Do I get a step-up in basis to the date the settlor died If I take it in stocks?

Does the trust also get a step in basis to the date the settlor died if the trust sells the stock and then just sends me a check?

Thank you

Best answer by Anonymous_

As in the first thread you started, the basis of the assets in the trust will be stepped up to their fair market value as of the date of death of the grantor.

If the trustee distributes the stock directly to you, then you will take the trust's basis, which will be the stepped-up basis.

Anonymous_Answer

As in the first thread you started, the basis of the assets in the trust will be stepped up to their fair market value as of the date of death of the grantor.

If the trustee distributes the stock directly to you, then you will take the trust's basis, which will be the stepped-up basis.