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by CareyBot

DEAR BOB: What is the best way to hold title to my residence to avoid probate and also to get the step-up in cost basis? --Steve L. DEAR STEVE: I presume you mean you want your heir to receive the stepped-up basis to market value after you die. Purchase Bob Bruss reports online. The best way to hold title to real estate is usually in a revocable living trust. While you are alive you can buy, sell, refinance and manage your living-trust assets because you are the trustor, trustee and beneficiary. However, if you become incapacitated, such as with Alzheimer's disease or a severe stroke, or after you pass on, your successor trustee takes over and manages or distributes your living-trust assets as instructed in your living trust. After you die, your living-trust assets are distributed withou...