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URL:  https://boards.fool.com/if-you-truly-meant-quotnotquot-putting-my-25141018.aspx

Subject:  Re: Buying a condo: my head is spinning Date:  2/7/2007  11:06 AM
Author:  vickifool Number:  91826 of 131093

If you truly meant "not" putting my name on the title to her condo, this is definitely something new for me to think about. I thought that by putting both names on the title, it would make things easier as we would avoid probate if something happened to one of us. I guess the 50/50 owners and 50% stepped-up basis would apply because I would not actually be a joint tenant?

Whether you live there or not doesn't matter for estate purposes.
If both of your names are on the title, when she dies you get a step-up on half the value. If it's in her name, you get a step-up on the whole thing.

Did you know that there is an active estate planning board here at the Fool?
http://boards.fool.com/Messages.asp?mid=25117611&bid=113006

Vickifool

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