TIP for Selling an Estate
RM Home Specialists • June 7, 2024

Don’t Miss This Important Step at A Time of Grief

Madison and I learned about this important step when we helped my Mother-in-law sell her family home. She was faced with a huge tax bill, until we did the research!

 

Losing a loved one is an emotionally challenging experience, and amidst the grief, handling the subsequent financial and legal responsibilities can be overwhelming. One crucial step is determining the value of any property they owned at the time of their death. This is not just a bureaucratic detail—it has significant tax implications that can affect your financial future.

 

Understanding the "Step-Up in Basis"

 

When a loved one passes away, their property typically receives a "step-up in basis" for tax purposes. The basis of a property is its original purchase price, adjusted for improvements and depreciation. The step-up in basis recalculates the property’s value to its fair market value at the date of the owner's death. This adjustment can significantly reduce capital gains taxes if you decide to sell the property in the future. 

 

For instance, if your parent bought a home for $90,000, and it's worth $500,000 at one spouses passing, the property’s basis steps up to $500,000. Selling it for $550,000 within a year would mean you owe capital gains tax on the $50,000 profit, not the $460,000 gain from the original purchase price.

 

The Role of RM Home Specialists

 

To ensure an accurate step-up in basis, obtaining a comprehensive report of value on the property is crucial. We provide a detailed report of the property’s fair market value for our clients at the time of your loved one’s death. This documentation is essential for:

 

  1. Tax Reporting and Compliance: Accurate property valuation is necessary when filing the estate’s tax return to report the fair market value and avoid penalties and interest.

  2. Minimizing Capital Gains Tax: A professional appraisal ensures the new basis is precise, reducing potential capital gains taxes when you sell the property.

  3. Equitable Distribution Among Heirs: A fair valuation helps ensure an equitable distribution among multiple heirs, preventing legal disputes.

 

We are here for you!

 

At RM Home Specialists, we understand the complexities of managing an estate during a difficult time. We provide comprehensive support and information to help you navigate these challenges. Our team of experts is here to assist with property appraisals, helping prepare a home for a sale, and maximize your family assets. Whether the monies are for care of a family member or part of an estate, we’ve got you.

 

Here are some estates where we’ve worked with the families in preparing the home and determining a tax bases at the time of a spouses passing. Contact us today for the support and information you need during this challenging time.


Tacoma Estate


Lakewood Estate


For more information, check out this blog from 2021, where we helped a family prepare their estate in beautiful Point Fosdick, Gig Harbor. We go into more detail about how we help our clients prepare for market.




Regina and Madison
RM Home Specialists
Licensed Managing Brokers | Realtors® 
Windermere North Narrows



Tacoma Real Estate | Building Wealth | Luxury Homes | How to Sell a House | How to Buy a House | Windermere | Regina and Madison | Pierce Country Real Estate | Estate Sale | Preparing an Estate | How to Sell an Estate

Gated Comfort, Garden Charm and an Unbeatable Lakewood Location

By RM Home Specialists • July 30, 2026
Some homes stand out because of their finishes. Others win you over with their location. This beautifully upgraded condo at Clover Creek Crossing offers both, along with the intimate feeling of a small, established community. Clover Creek Crossing is a gated community of just 10 units offering a quieter and more personal alternative to a large condominium complex. Surrounded by lush landscaping and with access to Chambers Creek, the setting feels peaceful and tucked away yet it is wonderfully connected to everything Lakewood has to offer. Step inside, and you’ll immediately appreciate the bright, open layout and the extensive upgrades completed throughout the home. The recent remodel included new flooring, appliances, kitchen cabinetry, extended granite countertops, updated bathrooms, lighting, ceiling fans and fixtures, as well as fresh interior paint. The gas fireplace was replaced and refreshed, built-in bookshelves were relocated, and a new patio slider was installed to create an easy connection between the interior and outdoor living spaces. The improvements went well beyond the cosmetic. A new furnace and water heater were also added during the remodel, while air conditioning provides a welcome layer of comfort during the warmer months. It is the kind of thoughtful updating that allows a new owner to move in and enjoy the home without facing a long list of projects. One of the home’s most enchanting features is its private brick patio. Framed by greenery and equipped with its own watering system for the garden beds, it is a delightful place for morning coffee, container gardening, outdoor dining or a quiet evening with friends. It feels like a secret garden—beautiful, manageable and surprisingly private. Parking is another standout benefit. The home includes both a private garage and an additional covered carport, providing valuable space for vehicles, storage or hobbies. Then there is the location. Clover Creek Crossing places you just steps from Lakewood Towne Center and the Lakewood Racquet Club , with shopping, dining, fitness and everyday conveniences close at hand. Quick access to I-5 makes commuting to Tacoma, Olympia, JBLM and surrounding areas simple, while the gated entry and natural surroundings welcome you home to a calmer pace. This is more than an upgraded condo . it is a charming, comfortable retreat in the center of it all.

Craftsman Charm in the Heart of South Tacoma

By RM Home Specialists • July 24, 2026
Incredible deals can be found in South Tac, where vintage Craftsman character meets a wonderfully connected Tacoma lifestyle. As an example of this, welcome to our newest listing at 1424 S 55th . From its welcoming entry and coved ceilings to charming built-ins, cozy fireplace, vintage kitchen, and flexible basement rooms, and central A/C this home offers warmth, personality, and room to make it your own. The central South Tacoma location makes everyday conveniences at your doorstep. Enjoy quick access to I-5 for commuting, shopping and conveniences at Tacoma Mall , and the independent shops, neighborhood gathering places, and globally inspired eateries found throughout the historic South Tacoma Business District. Summer may be when this home shines brightest. The fully fenced backyard is ready for gardening, entertaining, or relaxing among established native landscaping, raised garden boxes, trellises, a patio, and a useful storage shed. When the temperature climbs, head inside and enjoy the home’s upgraded heat pump and refreshing A/C—a feature Northwest buyers increasingly appreciate. Outdoor recreation is also close at hand. Walk around the lake, picnic, play, or visit the dog park at Wapato Park , cool off at Stewart Heights Pool , or explore the fitness, recreation, and family programs available at the STAR Center . As longtime Pierce County real estate professionals, RM Home Specialists at Windermere West Campus understand what makes South Tacoma special—from its central location and distinctive older homes to its rich mix of locally owned businesses, diverse dining, parks, and community amenities. We’re proud to help buyers and sellers recognize the value and possibilities found in this vibrant part of our Tacoma. Charming, comfortable, and connected—1424 S 55th Street is ready for its next chapter. Regina and Madison RM Home Specialists Licensed Managing Brokers | Realtors® Windermere West Campus

From Mountains to Main Street: The Pierce County Lifestyle

By RM Home Specialists • July 22, 2026
Discover the trails, parks, restaurants, local favorites, and welcoming communities that make Pierce County one of the Pacific Northwest's best places to live. Pierce County offers the perfect blend of natural beauty, vibrant communities, and everyday convenience. Whether you're looking for more space, easy access to outdoor recreation, or a welcoming place to call home, it's easy to see why so many people are putting down roots here. Residents enjoy peaceful neighborhoods while staying close to shopping, dining, healthcare, and major commuter routes. It's a lifestyle that offers room to breathe without sacrificing convenience. Outdoor enthusiasts have endless opportunities to explore. Spend the day at Spanaway Park and Spanaway Lake enjoying walking trails, fishing, boating, playgrounds, or a lakeside picnic. Throughout the year, the area hosts community events, and during the holidays, Fantasy Lights transforms the park into one of the region's favorite seasonal attractions. For even more recreation, Sprinker Recreation Center offers ice skating, pickleball, tennis, sports fields, and activities for all ages. And with Mount Rainier National Park , Crystal Mountain , countless hiking trails, lakes, and rivers all within easy reach, adventure is never far from home. Food lovers will appreciate the area's diverse dining scene, featuring everything from family-owned Mexican restaurants and authentic Asian cuisine to cozy cafés, breweries, and local favorites throughout Puyallup and the surrounding communities. Downtown Puyallup adds even more charm with boutique shopping, year-round events, and the iconic Washington State Fairgrounds . What truly makes Pierce County special is its balance. You can enjoy a quiet evening at home, spend the weekend exploring the mountains, or meet friends for dinner, all without traveling far. It's a place where community, convenience, and the Pacific Northwest lifestyle come together. Featured Home If you've been dreaming of finding an affordable home with room to grow, this new Puyallup listing is one you'll want to see. Located at 19113 85th Ave Ct East in Spanaway , i t offers comfortable one-level living, a spacious yard, RV parking, and a custom-covered front porch perfect for your morning coffee. The standout feature is the incredible detached two-car garage, ideal for woodworking, restoring cars, hobbies, projects, or extra storage. With a back deck for entertaining and a location just minutes from Canyon Road, shopping, dining, and commuter routes, this home is full of opportunity for its next owner. Regina, Madison, and Stacey RM Home Specialists Licensed Managing Brokers | Realtors® Windermere West Campus
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