Thanks Steve. Very clear explanation of how to proceed.
As to your question about cost basis, because they are in trusts, as I understand it, the cost basis is still what it was when my mother acquired them. This will continue for the trust for my mother and, as a result is a bit tricky as my brother tends to see that people are out to get him. Losses for him may mean a court case so I am hesitant to mess too much with his portfolio. I know that this is not the best way to run things. Additionally, the current income on his portfolio is a bit over 15% on current stock value and a bit over 11% when you include the amount of cash on hand. (Cash reserves are required for disbursements to him for living expenses.) Given that, I'd have to show changes will likely result in better returns. In all honesty I don't think this would happen by enough to make locking the losses worthwhile. Perhaps my past experience with lawsuits has made me more sensitive to cold feet than is appropriate. I don't really want to go through a 5+ year process at my age.
For the trust for my daughter and myself it is not as big a deal as the money for my daughter is for her education and will be almost totally spent by the end of the year so that trust will be closed and the cost basis for my share will be adjusted then.
My goal is to make things a bit more stable, long term, for both myself and for the trust for my brother.
Best,
Allen
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