What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis? Or do they only ...

Q: My wife and I own two real estate properties. One of the experts I refer to in the real estate field is Ilyce Glink, who has written many useful books on real estate. Ms. Glink pointed out that one ...

Key steps, taxes and family considerations of inherited property.

My mom passed in December at age 92. We are getting different opinions as to whether capital gains will apply to the sale of her home. My mom owned the home for approximately 30 years. She had moved ...

Dear Liz: I own a house with my longtime boyfriend. If one of us dies, how does the capital gains step-up affect the other? Answer: The deceased partner’s share of the home will get a new basis for ...

Inheriting a home can be both a gift and a challenge. Alongside the emotional weight of loss, you might also face tough financial decisions, especially if you plan to sell the property. One of the ...

Receiving property when someone dies can come with unexpected financial burdens, particularly taxes like estate and inheritance, and capital gains tax, which applies to the profits made from selling ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Estate planning has long been about building and preserving wealth, minimizing taxes and ...