tax planning trust
Can you transfer property from a family member who is ill as a gift?
My grandmother is ill and can not mentally make decisions. We are planning on acquiring her house (in San Francisco). Can be transfer it to us, we are on the trust, and continue to pay the taxes she does ($300 per year, based off the value she bought the house in 1946). Otherwise our taxes will be based off the value now (800k, about 12k in taxes. Help …. can we trasnfer as a gift and keep the taxes the same?
There has to be a way to move you on to the deed. With multiple names on the deed the property could move between relatives. I would not suggest a quit claim deed, that might be contested (forged). This is a situation for a professional, believe me the cost is worth the gain.
Orange County Estate Planning Attorney – Living Trust
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Categories: Tax Planning estate, inheritance tax planning trusts, law, planning, tax, tax planning trusts, trust
