have to re-title an account to an estate for cost basis?
have client who mother passed away. She has 80k in a Non-Qualified managed account.
a. Can she just send in the death certificate & short cert. and have them send her a check made payable to the estate of her mother and still get the date of death cost basis?
or…
b. Does the account have to be re-titled to the estate first in order to obtain the date of death cost basis?
thank you
Doug
Permalink Submitted by Alan - IRA critic on Mon, 2019-02-04 18:25
The DOD of cost basis will apply regardless of the beneficiary type and date of payment, but the account cannot be paid to the estate beneficiary until the proper papers are filed including a death cert, estate EIN, address of executor, etc.