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Great question!
It depends. If it is a revocable trust, that is, the trust is revocable by the grantor until the date of his passing, the investments transfer as part of the estate and will get the step up in basis. If it is created as a irrevocable trust, the investments are not part of the estate and therefore do not get the step up in basis.
‎June 28, 2023
12:52 PM