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My mother has asked me to make arrangements to have all of her property, (home and several acres of farm land) transferred to me. My attorney says it would be wise for her to convey the property to me. She would be living there for the rest of her life of course. I suppose my question is... Are there some tax consequences for me in such a conveyance of property? I can't imagine that there aren't. I thought I'd get a little advice before I visit with the attorney and cpa.
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