The reset you did not ask for.

What happens to the step-up in basis when your spouse dies? When a spouse dies, most inherited assets get a step-up in basis: their cost resets to the value on the date of death, and the tax on the gain built up over a lifetime largely disappears. In Illinois and most states, jointly held accounts reset by half, while retirement accounts do not reset at all. This walks through what resets, what does not, the one clock worth watching, and why the step-up quietly makes waiting affordable. Full transcript and show notes: https://consideratecapital.com/podcast/step-up-in-basis-when-your-spouse-dies This content is for educational purposes only and is not investment, tax, or legal advice. Considerate Capital is a registered investment adviser in Illinois. Past performance does not guarantee future results. All strategies involve risk, including the potential loss of principal. Please consult your own tax, legal, and financial advisors regarding your specific situation.