My father-in-law is aged. He is living with one of his daughters, who is poor. He wants to buy a house (around $80,000), put it in her name, and when he dies she inherits it.It sounds to me like he is giving her a "gift" of $80,000 now, on which taxes may be due. Is that correct? Would it be any different if he put the house in both his and the daughter's name?
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