The question is when property is passed on to a Marital trust on the death of one of the original grantors, is the tax basis of the property updated to the current market value of the property, or is still the original tax basis that the decedent grantor had for the property? Note The Marital trust is an irrevocable Trust, but QTIP property is supposed to be an exception ( that's what my attorney says but I cant find a confirmation of his statemet)
