Give your home away - No Taxes #assetprotectionplanning #yourfamily #capitalgains

14 Nov 2023 · 1 min

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0:30

In this short video, the presenter explains how to transfer a house to your children without incurring taxes. He warns against gifting the property while alive, as that triggers tax liabilities. Instead, he recommends establishing a revocable living trust and placing the house in it, so that upon the owner's death the heirs receive the home tax‑free and without the need for probate. The speaker concludes by inviting viewers to sign up for his newsletter for more tips.

Would you like to know how to give your home to your kids so they don't have to pay any taxes on it? If you would, write this down because here's how you do it. First, here's what not to do. Don't give them the house while you're alive. That creates all kinds of taxes. What you want to do is to create a revocable living trust and leave them the house in the trust. By doing that, when you die, they'll get the house without any taxes and it will not have to go through probate court. Find out about these tips and a lot more when you sign up for my newsletter in my profile link.