Give Your Home Away With No Taxes

25 May 2023 · 1 min

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0:34

In this brief instructional video, the speaker explains a tax-efficient method for passing a house to one's children. He warns against gifting the property while alive because it triggers significant tax liabilities. Instead, he advises establishing a revocable living trust and placing the house in that trust, so that upon the owner's death the heirs receive the home without incurring taxes and without the need for probate. The speaker also promotes his newsletter and a paid webinar for deeper legal education.

Chapters

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. And if you really want to become a legal scholar, up Upgrade to my webinar group.