States
In addition, community-property states frequently have forms of ownership that allow a full basis step-up on one's own share of community property on the death of a spouse (in addition to the normal step-up on spouse's assets).
Read more about this topic: Rights And Responsibilities Of Marriages In The United States
Famous quotes containing the word states:
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
—Benjamin Harrison (1833–1901)
“The government of the United States is a device for maintaining in perpetuity the rights of the people, with the ultimate extinction of all privileged classes.”
—Calvin Coolidge (1872–1933)
“We cannot feel strongly toward the totally unlike because it is unimaginable, unrealizable; nor yet toward the wholly like because it is stale—identity must always be dull company. The power of other natures over us lies in a stimulating difference which causes excitement and opens communication, in ideas similar to our own but not identical, in states of mind attainable but not actual.”
—Charles Horton Cooley (1864–1929)