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Articles Posted in appraisals

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INCOME TAX APPRAISALS TO ESTABLISH INCOME TAX BASIS ON DEATH OF PROPERTY OWNER-TRUSTOR

AN APPRAISAL IS NEEDED UPON DEATH OF A PROPERTY OWNER.  A routine part of trust administration or probate administration is to obtain an appraisal of each property owned.  This is for income tax reasons.  Because the income tax basis is increased “stepped up” upon death to fair market value an…

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