What is the name of your state (only U.S. law)? Maryland
I would like to give to my married child cash gift approx. 300k to purchase house. I am concerned that in the case of divorce 1/2 of the house might belong to the ex-spouse of my child.
or,
I can firstly purchase the house in my name, let the married child family live in the house and ultimately bequeath the house to the own child only (and/or his siblings). Do I create myself a tax problem? I'm living long distance from the children and often stay with them in the house.
I would like to give to my married child cash gift approx. 300k to purchase house. I am concerned that in the case of divorce 1/2 of the house might belong to the ex-spouse of my child.
or,
I can firstly purchase the house in my name, let the married child family live in the house and ultimately bequeath the house to the own child only (and/or his siblings). Do I create myself a tax problem? I'm living long distance from the children and often stay with them in the house.