What is the name of your state (only U.S. law)? California
Hi folks,
First time posting here. Here's my question.
My family is looking to purchase a home. There is an intricacy that may be solved with a use of a Trust. Here is the deal:
My sister and her husband currently live in Israel with plans on moving to the US within the next few years. They are not US citizens. They would like to send $470K to my mother so she can purchase a home, that will be her primary residence, in her name. However, I believe they would have to pay a gift-tax on the moneys that they send over or my mother would have to pay taxes.
Is there any type of Trust that can be set up to go around the tax implications of such a gift? This Trust will be purchasing the home in its name.
Thank you,
Hi folks,
First time posting here. Here's my question.
My family is looking to purchase a home. There is an intricacy that may be solved with a use of a Trust. Here is the deal:
My sister and her husband currently live in Israel with plans on moving to the US within the next few years. They are not US citizens. They would like to send $470K to my mother so she can purchase a home, that will be her primary residence, in her name. However, I believe they would have to pay a gift-tax on the moneys that they send over or my mother would have to pay taxes.
Is there any type of Trust that can be set up to go around the tax implications of such a gift? This Trust will be purchasing the home in its name.
Thank you,
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