Legal Question in Wills and Trusts in Florida

quick claim deed

If you quick claim your property to your children before you die is there a gift tax or propate involved?


Asked on 1/26/07, 4:14 pm

2 Answers from Attorneys

Robert Roemer Robert Roemer

Re: quick claim deed

I would need to know what how much property and how you are going transfer it to your children before to answer your question.Please send me a e-mail which responds to the questions.

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Answered on 1/26/07, 4:48 pm

Re: quick claim deed

If the deed transfers property to your children before your death there would be no probate on that property. I have other concerns though. If the property is your homestead, transfer could result in loss of your homestead exemption and much higher property taxes. If it is your children's plan to seel the house upon your death there may be capital gains issues for them because the property was not inherited. You may want to consider an enhanced life estate deed or lady bird deed. There are many issues here and so I suggest you speak with an attorney before taking any action.

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Answered on 1/26/07, 5:02 pm


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