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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Home Transfer Suggestion Posted by Dave Vanian on May 12, 2009 at 6:20 PM As a long time reader of this board, and an attendee of Ward's training classes, I have a great amount of respect for the contributors out there. May I pose a question? My mother has a home in So. Cal, that is totally paid off. She is moving to Las Vegas. Her So Cal house is in a living trust of which she is the trustee and my sibling and I are the successor trustees as well as sole beneficiaries. My mother doesn't want to deal with the hassles of renting out the So Cal house, or taking equity out of it for the new Henderson house, etc.... Is there a way my sister and I can handle all that for her, but without having a tax burden put on us by being put on the So Cal house title while she is still alive? Basically the goal is to take equity out of the So Cal house to buy the Las Vegas house, then my sibling and I will pay the mortgage payment, manage the rental of the So Cal house, etc... I am sure there is a clean way to do this via trust, THT, etc... Thanks for any suggestions. -D Follow Ups: Re: Home Transfer Suggestion BTI 10:17 AM, 05/15/09 (0) Re: Home Transfer Suggestion Rick, the Probate Guy 8:44 PM, 05/12/09 (3) Re: Home Transfer Suggestion Dan 5:08 PM, 05/13/09 (2) property management bukzin 9:42 AM, 05/14/09 (1) Very true; well said bukzin (NT) Tom 12:59 AM, 05/14/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : As a long time reader of this board, and an attendee of Ward's training classes, I have a great amount of respect for the contributors out there. : May I pose a question? : My mother has a home in So. Cal, that is totally paid off. She is moving to Las Vegas. Her So Cal house is in a living trust of which she is the trustee and my sibling and I are the successor trustees as well as sole beneficiaries. : My mother doesn't want to deal with the hassles of renting out the So Cal house, or taking equity out of it for the new Henderson house, etc.... : Is there a way my sister and I can handle all that for her, but without having a tax burden put on us by being put on the So Cal house title while she is still alive? : Basically the goal is to take equity out of the So Cal house to buy the Las Vegas house, then my sibling and I will pay the mortgage payment, manage the rental of the So Cal house, etc... : I am sure there is a clean way to do this via trust, THT, etc... : Thanks for any suggestions. : -D [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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