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URL:  http://boards.fool.com/speaking-of-cost-basis-27520157.aspx

Subject:  Speaking of cost basis Date:  3/13/2009  5:33 PM
Author:  nutsandbolts Number:  105135 of 121461

WELL: Speaking of cost basis, brings up another point for me(as if I don't have enough problems with Scottrade and they "don't give legal advise") Grrrr!

Over the years that my spouse and I saved....every penny of my salary went into an account that was in a trust in both our names and we never had any personal problems with money. I managed both accounts after his retirement. Since his demise, I had to inherit my own money since it was in both our names although not one penny was from his income. A thought for those who do this.

Cost basis: Since I have "inherited" these accounts, do I use the basis from the date of his death OR form the date I exited probate? I notified Scottrade the following day of death and both accounts (his IRA and the Trust) were frozen and I could no longer access them on line. I had to finish probate for the accounts were not legally mine until I inherited them legally....a period of almost 9 months.

This has been a nightmare for me!

Brooks
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