[dharmaturtle]

And in the case of investments, there is an _advantage_ to going through the legal process (in the US): you get a step up in basis.

> Step-up in basis refers to the adjustment in the cost basis of an inherited asset to its fair market value on the date of the decedent's death.

https://www.investopedia.com/terms/s/stepupinbasis.asp

Many elders in my immigrant family have passed, but because my family has a distrust of lawyers and the legal system, we've managed to never receive this benefit.

[panarky]

You don't need a high-priced attorney to get the step-up in basis.

It's up to you to report the basis on capital assets that you sell. You do that on your tax return.

For assets you inherited, the basis is the asset's value on the date the decedent died.

For stocks, bonds, mutual funds, etc. in a brokerage account, that's pretty easy because daily closing prices are published. For real estate you should get a professional appraisal.

But none of this requires the "legal system" or a lawyer.