I have a house in California and now buying a vacation house in Florida..... I want both sons to inherit the house in Florida paying less taxes possible when I will die. How should I proceed in Florida to achieve that goal (Federal and State)?
Thanks for your help
Sincerely
Alain Lebeau
1 Answer from Attorneys
Dear Mr. Lebeau,
How do you want to accomplish getting a property to your children depends on your personal situation and your children's. One possibility is to have the property put into three of your names as tenants by survivorship so that if you passed away the property would automatically go to your two sons. However, if your sons are younger if they had financial problems their creditors could seize their interest in the property during your lifetime. Another way to accomplish the same result is to amend your estate plan to ensure they get the property after your death. I would suggest that you e-mail me your phone number to discuss this matter further because of these complexities and others that I haven't described.