If my dad puts me on the deed to his property, would we avoid inheritance taxes upon his death?
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If my dad puts me on the deed to his property, would we avoid inheritance taxes upon his death?
Is there a length of time I would need to be on the deed?
Asked on November 6, 2012 under Estate Planning, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you father deeds you an interest in real property that he presently owns there would be no estate tax for the gift at the present but could very well be a gift tax that your father would be responsible for upon transfer. As such, I suggest that your father consult with a Wills and trust attorney about how he may wish to properly go about setting up a proper estate plan.
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