Posted on: 16th Apr, 2009 02:24 am
What is the most tax efficient way for parents to transfer the ownership(whole or part) to their child?
Hi infoneeded
The most easiest way to transfer property to your child is through a quitclaim deed. However, you can also use a trust in order to transfer the property to your child. Your child can be the beneficiary of the trust. While forming a trust, I would suggest you to contact an attorney and take his opinion in this regard.
Thanks.
The most easiest way to transfer property to your child is through a quitclaim deed. However, you can also use a trust in order to transfer the property to your child. Your child can be the beneficiary of the trust. While forming a trust, I would suggest you to contact an attorney and take his opinion in this regard.
Thanks.