Subject: Re: Gift Tax and Stock Basis
I may be wrong, but I believe this is a bit of a loophole:

Say I were to give my son 30 1kg gold bars that I bought at $1500/oz to place in a safe deposit box and keep safe for me, with instructions that if I do not need the assets before I die they become his at my death; and at my death the bars are worth $3000/oz, then this, the value of gold on the day I died, becomes his cost basis when selling since I provided him no other documentation.

Smufty