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:
“In the case of a deliberate, palpable, and dangerous exercise of ... powers not granted by the compact, the States ... are in duty bound to interpose for arresting the progress of the evil, and for maintaining within their respective limits the authorities, rights, and liberties appertaining to them.”
—James Madison (1751–1836)
“Action from principle, the perception and the performance of right, changes things and relations; it is essentially revolutionary, and does not consist wholly with anything which was. It not only divides States and churches, it divides families; ay, it divides the individual, separating the diabolical in him from the divine.”
—Henry David Thoreau (1817–1862)
“Colonel [John Charles] Fremont. Not a good picture, but will do to indicate my politics this year. For free States and against new slave States.”
—Rutherford Birchard Hayes (1822–1893)