STEPPED UP BASIS

Property transferred through inheritance can receive special treatment for tax purposes. The basis or the value of the property used for a new owner that is given pursuant to inheritance may be the market value of the property when acquired at the time of death rather than the original cost of acquisition by the testator, resulting in less gain due to the higher … [Read more...] about STEPPED UP BASIS

The legal adoption of a child by a stepparent, living in the same household with the child's parent. This may require the consent of the child's noncustodial parent unless the parent is dead or missing or has abandoned the child. … [Read more...] about STEPPARENT ADOPTION

A step-father or step-mother. … [Read more...] about STEP-PARENT

In Latin noverca, is the wife of one's father, who is not the mother of the person spoken of. The woman who marries a widower, he having a child by his former wife, becomes step-mother to such child. … [Read more...] about STEP-MOTHER

In Latin vitricus, is the husband of one's mother who is not the father of the person spoken of. The man who marries a widow, she having a child by her former marriage, is step-father to such child. … [Read more...] about STEP-FATHER