[greglepore]

My understanding is the same as Fint's with one caveat-if he owes capital gains etc on the funds that he liquidates, he must pay them - the distribution to you is free of gift/inheritance tax if below the lifetime limit.
We held some of my dad's assets (real estate) until death because you inherit them with a "basis step up" that eliminates the capital gains. The decedent never pays them, and your new basis is the value on date of death. Applies to any asset-collectibles, investments , r/e etc.