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Personal Finance (Not Investing) • Step-up in basis for real estate

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Florida is not a community property state. Assets held by your mother will not receive a step up unless she dies. There is an exception, though, if the property is held in a community property trust. See this link for info and consult a lawyer: https://darroweverett.com/florida-commu ... ts-updates
Got it. As mentioned, though, the property in question is in New York. It's essentially a summer home. My parents current primary residence is in Florida, where they live most of the year, but that's not the property in question.

Statistics: Posted by alexcr — Wed Jul 24, 2024 11:57 am — Replies 6 — Views 539



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