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Second of all, you say she had no "estate" after her death. If that's the case, it sounds like the house was all she owned. Unless it was a VERY valuable house, then, it was probably worth less than the estate tax exemption, and thus wouldn't have been subject to estate taxes anyway...AND you would still receive that step up in cost basis. So unless this is a multi-million dollar property, I don't see why this strategy was even necessary in this case.

The house was worth about $75K, our (her children) names were on all of her accounts. After her death we didn't need an attorney or even a will for that matter and transferring the house into our names with her name removed was extremely easy.

- John
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