Inherited Rental Property distributed through a irrevocable trust

My relative had all their rental property in a revocable trust.  Upon passing the trust became irrevocable.  It took three months to wind up the relative's estate and file the F1041 tax return for the trust and distribute the property.  The property was distributed to me and I received a K-1 form listing the net income and expense for the properties while in the trust.

 

I am guessing that depreciation on the properties would have continued and remained on the same basis as if my relative had not passed while the properties were in the irrevocable trust.  Upon the dissolution of the trust and the distribution of the property, I would step up the basis in the properties and my depreciation would begin on the date the trust was dissolved.

 

Is my assumption correct?

 

Thank you, RT