Posted on: 24th Oct, 2010 01:43 pm
What is the best way to transfer my property that is free and clear to my daughter without her having to claim gift taxes?
Hi garth,
If you transfer your free and clear property to your daughter, she won't be liable for paying any gift taxes. Rather, you will be liable for paying gift taxes. If the gift does not cross the exemption limit, then you won't be liable for paying any gift taxes. There is a life time gift tax exemption of $1million.
If you transfer your free and clear property to your daughter, she won't be liable for paying any gift taxes. Rather, you will be liable for paying gift taxes. If the gift does not cross the exemption limit, then you won't be liable for paying any gift taxes. There is a life time gift tax exemption of $1million.