You probably already know that when someone passes away, their heirs get a stepped-up cost basis on the taxable investments they inherit, like stocks and real estate. But what happens to assets that both spouses own jointly with a right of survivorship, when one spouse passes away? Not knowing this could cause you to over pay on your taxes.
Brian Fricke certified financial planner CFP Fee Only Advisor Fee Only Financial Planner Financial Advice financial advisor Financial Management Concepts Financial Planning Florida Investing Joint tenants with rights of survivorship Orlando Private Wealth Management Retirement Planning Stepped-up cost basis Surviving spouse Taxes Widow Widower
About Brian Fricke, CFP®
Brian L. Fricke is a Fee Only® Financial Planner, Author, Speaker and Incredible Retirement® Expert.