If assets are put into a trust, do the beneficiaries get the "Step Up" in basis when calculating the capital gains? Is the new basis determine on the date the the settler died? Is that different with a will?
Does it matter if the trust is revokable or irrevocable? It was created as a revocable trust. My understanding is that a trust becomes irevocable on the death of the settlor. Is that correct?
The trust held dozens of individual stocks. Does the Financial Planner need to provide the price for EACH stock on the day of death?
