Posted on: 02nd Mar, 2010 12:42 pm
my mom is living and wants to give me a property out of her living trust to me now- how will this effect me tax wise?
Hi jclss,
Once you become the owner of the property, you will become responsible for paying the property taxes and other utility bills. If the property tax bill comes in your mother's name, then you will have to contact the required department and change it in your name.
Thanks.
Once you become the owner of the property, you will become responsible for paying the property taxes and other utility bills. If the property tax bill comes in your mother's name, then you will have to contact the required department and change it in your name.
Thanks.