Legal Question in Wills and Trusts in New York

It depends upon what you are trying to achieve and your age and circumstances.

You should be aware that an outright transfer is a gift and your daughter's basis in the real estate is what you paid for it when you bought it.

If you need a consultation for estate planning purposes feel free to contact me.

This post is not legal advice and does not create an attorney-client relationship. It is a comment on the legal question posed by the poster and should not be relied upon in any way. All readers are advised to consult an attorney to address their specific legal concerns. Additional facts could affect the answer given.

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I agree with Arnold and there are numerous reasons to do one or the othewr. Keep in mind that there are many ramifications, pro and con, that must be considered in making this decision. More facts are needed to explain what you are trying to accomplish and why, and there may be other alternatives available, like a trust, LLC, limited family partnership, etc. Contact me directly if you would like to discuss all of your options.