Legal Question in Real Estate Law in Massachusetts
protecting my home
I owe money to the IRS and I do not have it. Can I put my home in my children's name so the IRS cannot take it. I have 3 children and the oldest is 15. Thanks
3 Answers from Attorneys
Protecting home from IRS.
It's not going to work as easily as you're hoping, but there is in Massachusetts a law that can help protect your home from the IRS. However, you'd better call me to tell me more details before I startgiving out too much info which could mislead you.
I'm available at my 617-527-0050 number all evening, watching the Pats trounce the Broncos, no matter how many brews it takes to make me see it that way. (Seriously, I don't really drink.)
Transfering home to protect from IRS
If you transfer your home to your children, the IRS can have the transaction reversed as fraudulent. Furthermore, since you have minor children, you would need a court order to sell the property. You are better off talking to the IRS and setting up a payment plan. You may also wish to consider declaring a homestead.
IRS versus your homestead.
Why don't you call me?
Stu. 617-527-0050.