Posted on: 22nd Feb, 2011 02:56 pm
I am the trustee and Exeutor of my mothers will can I do a deed transfur over to her 3 children and I her daughter befor she dies so we can avoid a gains tax,or would we still have to pay for a gains tax regardless
Hi tam!
Welcome to forums!
You will be liable for paying capital gains taxes only when you receive profit from the sale of the property. As your mother is still alive, I don't think you will be able to transfer the property in your names. However, if your mother wishes, she will be able to transfer the property to you and your siblings.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will be liable for paying capital gains taxes only when you receive profit from the sale of the property. As your mother is still alive, I don't think you will be able to transfer the property in your names. However, if your mother wishes, she will be able to transfer the property to you and your siblings.
Feel free to ask if you've further queries.
Sussane