P
Pinkskunk
Guest
Hi,
Under the current federal and state GIFT tax law, can my mother legally split up her house to all four of us? She wants to do it over the next 2-5 years and the home is worth about $100K. Can she give it away but still have her name as the owner (as long as she live there and not selling it) but after it is sold, the money is to be split up in 4?
If so, what is the best way to do it? if i decide not to use a lawyer.
Under the current federal and state GIFT tax law, can my mother legally split up her house to all four of us? She wants to do it over the next 2-5 years and the home is worth about $100K. Can she give it away but still have her name as the owner (as long as she live there and not selling it) but after it is sold, the money is to be split up in 4?
If so, what is the best way to do it? if i decide not to use a lawyer.