Step up in Basis pertaining to a Land Trust

[Nixon Vayupak]

Would anyone know the tax rules in regards to a "Step up in Basis" pertaining to a Land Trust. We have a person who passed away and created a Land Trust. In the Land Trust he made himself as one of the beneficiary and along with his son. The son has an LLC and plays the role as the Trustee of the Land Trust. Now the son would like to sell the property and we are not sure if he can qualify for the "Step up in Basis" benefits. The property was purchased for like 100K and now it is worth 400K.