Legal Question in Real Estate Law in California

You need to go to the archives on LawGuru.com and read the answers I and other attorneys have posted about what an incredibly bad idea it is to make a gift of real property to your children while you are alive, rather than by trust or will after you die. It will cost thousands, maybe even hundreds of thousands of dollars in unnecessary capital gains taxes, and may have many other adverse tax consequences as well as subjecting you and the child to fraudulent transfer lawsuits if it leaves you without enough assets to satisfy your creditors. And that's all before you even get to the issue of the mortgage lender who will have the right to foreclose if you transfer it without paying off the mortgage if you transfer it while alive, but would be prohibited from doing so if you have passed away and the property transfers by will or trust.

I agree with Mr. McCormick.