Each spouse has a non-qualified mutual fund account with gains. Is there a downside to consolidating the holdings (in-kind, of course) to a JTWROS account in both of their names? The clients are in the state of GA.

The obvious benefit is the simplicity of having one account instead of two. My understanding is that at the death of the first spouse, the surviving spouse will get a 50% step up in cost basis of the joint holdings. Both of the accounts have similar holdings with similar gains.

Thanks.