Should You Gift, or Finance Your Home to Your Children?
With today’s home prices and the crazy real estate market, it’s likely difficult for your children to buy a home. And it’s conceivable that you are ready to move on from your existing home. If this is true, consider the three options below. Option 1: Make an Outright Gift Say you’re feeling so generous that you might just simply give your home to your adult child. What a deal for the kid! Tax-wise, if you make the gift this year, it will reduce your $12.06 million unified federal gift and estate tax exemption. To calculate the impact, reduce the fair