Posted by Dons on August 10, 2005 at 11:40:52:
It’s been a while, but if I remember correctly, when my father died, everthing automatically went to my mother…spouse inherits without probate. A few months later when she died, her date of death became the new basis date and everything was calculated as of its value on that date for the estate.
I would think if Grandma did QC to herself and daughter, then daughter only owns 1/2 of the house value and it may have to go through probate (if Grandma didn’t have a living trust) since daughter is obviously not a spouse.
At any rate, I’ve gone all around your question. I believe the basis is date of death. The attorney handling the estate can answer this for the daughter…