Adding parents to title to get step-up in basis?

[Petra M.]

Warning. Slightly morbid.

Has anyone thought of adding a parent to the title of a home to take advantage of the step-up in cost basis when the parent dies?  I see this as a way of avoiding the capital gains tax without resorting to a 1031 exchange.  Could this be applied to a primary residence which has gained more than $500k?