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Financial Planning / Tax Strategies


Subject:  Re: House transfer: Father to Sons Date:  6/20/2006  8:59 PM
Author:  vkg Number:  87490 of 124763

Your father would also be required to fill out a gift tax return. Depending on his other assets, it might not make any difference when his estate is settled.

A better option might be a revokable living trust. The successor or co-trustees would have the right to manage the property if he becomes incapaciated.

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