How can I transfer my home over to my son w/ minimal tax implications for me and him?
Do not attempt this without help from an attorney who has experience in Medicaid planning.
Saint Charles, MO
Business Lawyer at Saint Charles, MO
Practice Areas: Business, Estate Planning ... +2 more
Do not attempt this without help from an attorney who has experience in Medicaid planning.
If your state provides for non-probate transfers, you may transfer your house to your sister via beneficiary deed (a transfer that takes effect at...
No, but you should name your revocable trust as second or alternate beneficiary in case any primary beneficiary does not survive you.
Form a limited liability company ... owned 80-20. Make your rev trust the 80% member of the LLC. Have your rev trust transfer 80% membership to...
First, I don't understand how you "inherited" the property. The question is how did title pass to the property. Did it pass through probate to...
If the transfer takes effect at death, then it is probably a beneficiary deed (not a warranty deed). A beneficiary deed takes effect at death and...
Lots of missing facts here. For example, do you have siblings? Do you have siblings who have predeceased you? You can only acquire title via the...
The good news is that you've done something to avoid probate. The bad news is that TOD is not a substitute for planning. You are making a common...
Yes, your joint revocable trust is a "grantor trust" for this purpose. You and your spouse are both "grantors." You should never apply for an EIN...
I would encourage you to attend the estate planning class at the St. Charles Community College. Here's the link: ...