🙅🏻 Never let your parents give you their home
Summary
The video explains why it's better for parents to put their home in a living trust, naming their child as the beneficiary, rather than directly giving them the house. This allows the property to receive a "step-up in basis" upon the parents' death, saving the child from paying capital gains taxes on the property's appreciation during the parents' lifetime.
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Curated by Learn STR by GoStudioM