🙅🏻 Never transfer assets in your kid's name
Summary
This video explains why gifting a home to your child before death can result in higher capital gains taxes for the child if they sell it. Instead, the video suggests parents should hold the property in a trust with the heir as the beneficiary, so the property will get a 'step-up in basis' upon death and the heir won't have to pay capital gains taxes on the appreciation.
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