When a couple has step up a martial trust, how is cost basis for the trust determined at death? When the 1st spouse dies and assets are placed into marital trust, does the basis change also at the death of the 2nd spouse?
Is there two step ups in basis one at the 1st death which put the assets in the trust and one at the death of the second spouse before the trust is distributed to the beneficiary?
Is there two step ups in basis one at the 1st death which put the assets in the trust and one at the death of the second spouse before the trust is distributed to the beneficiary?