Legal Question in Real Estate Law in Florida

Re: Grant property to children

You didn't ask, but the gift is a bad idea from a tax point of view. You should talk to an attorney about this and what you are trying to accomplish, otherwise it can cost you thousands in taxes unnecessarily.

Re: Grant property to children

Transfer of appreciated property as a gift is unwise compared with the alternative of allowing it to pass by inheritance due to the valuation and tax rate applicable to each.

Also, if the purpose of the transaction is to "lighten up" mom's balance sheet to make assets invisible to creditors or sheild them from MediCal, be aware that creditors and governmental insurers are on the lookout for transactions of this kind.

Your best bet is to see a professional estate planner, who can put together the documents that will give both of you the best long-term result in terms of estate and gift taxes, avoidance of probate costs and delays, and staying out of trouble with laws against fraudulent transfers.

Re: Grant property to children

not only is the advice given by my fellow attornys excellent and should be heeded but your mother, NOT YOU, should see an attorney how is expert in estate planning/ real estate, which it is apparent you are not, and allow her, not you to talk to the attoney get his/her advice and tell the attorney to their face what she wants to do --- I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.