Legal Question in Real Estate Law in Nevada

Exchange of House for Care

If my father quit claims his house over to me in exchange for his care, would that exempt us from any Gift Taxes or probate in the event of his death? If so, what form should we use and how should the wording be phrased?


Asked on 10/07/08, 4:43 am

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: Exchange of House for Care

No escape from either gift tax or income tax. Put the house in a trust in your dad's name with you as the beneficiary. No tax + a stepped up basis on any future tax.

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Answered on 10/07/08, 10:53 am


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