Inherited Property

Learn how inherited property works in estate planning, from trust transfers to tax implications. Explore your options with SimplyTrust.

Do I have to pay taxes when I inherit property from a family member?

In most cases, inherited property receives a stepped-up basis, meaning the property's cost basis is reset to fair market value on the date of death26 USC § 1014Verified Jul 13, 2026View source rather than what the original owner paid for it. This can significantly reduce or eliminate capital gains taxes if you sell the property shortly after inheriting it. Federal estate taxes generally only apply to estates above $15,000,00026 USC 2001(c), 2010; P.L. 119-21 §70106Verified Jul 13, 2026View source, so most families do not owe federal estate tax on inherited property. Some states have their own inheritance or estate taxes with lower thresholds, so the rules can vary depending on where the deceased lived.

Multi-Generational Probate in Wisconsin: What Families Face

Multi-generational probate in Wisconsin creates fragmented ownership, heir disputes, and extended timelines. Here's what families face and how to plan ahead.

Estate SettlementNews

SimplyTrust EditorialJune 23, 2026