Don't Let Your Parents Give You Their House. Do This Instead

Would you like to learn how to protect your family's home, avoid probate, and reduce unnecessary taxes? Schedule a FREE strategy session here 👉 https://aba.link/q1ud If your parents give you their house while they're alive, you inherit their old tax basis, and selling it can cost you tens of thousands. Here's how a living trust and a land trust avoid probate without giving up the step-up in basis. In this video, Clint Coons, Esq. explains why gifting your house to your children while you're alive could trigger a massive capital gains tax bill—and how inheriting a home instead may save your family thousands of dollars. Learn how the step-up in basis works, the difference between gifting and inheriting real estate, why transferring your home to your children can create unexpected tax consequences, and how a properly structured living trust can help your heirs avoid probate while preserving valuable tax benefits. Register for a FREE upcoming workshop to protect your business and personal assets from snoopy lawyers and creditors. 👉 Save Your Seat: https://aba.link/2nei Got questions? Drop them in the comments below or reach out to us directly—we’d love to help. WATCH NEXT 👉 5 Assets You MUST Put In Your Living Trust Right Now    • 5 Assets You MUST Put In Your Living Trust...   🔔 Stay ahead of the curve. Subscribe for cutting-edge insights on real estate investing, business strategies, and more! Show Notes: 0:00 Intro 1:45 What Happens When Your Children Inherit Your House? 2:29 Can Moving Into the House Reduce Capital Gains Taxes? 4:22 Why Parents Transfer Their Homes Before Death 5:40 Gift Taxes vs. Estate Taxes: What Parents Get Wrong 6:53 The Hidden Risks of Gifting Your House 8:05 How a Living Trust Helps Avoid Probate and Preserve Tax Benefits 9:22 Transfer-on-Death Deeds vs. Living Trusts 10:14 How a Residence Trust Can Protect Your Privacy 11:23 What If Your Parents Already Gifted You Their House? 12:07 The Best Way to Transfer Your Home to Your Children --------------------------------------------------------------------------------------------------------- Download your free copy of Un-Tax Yourself eBook and discover the secret to real estate wealth is in the tax deductions. https://aba.link/untaxebook ABOUT CLINT COONS Clint Coons, Esq. has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth. --------------------------------------------------------------------------------------------------------- The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #estateplanning #livingtrust #inheritance