Inheriting Real Estate Properties - Anyone In Similar Situation?
Parents have a couple paid off SFH rentals in Florida and looking to retire soon. The goal is to transfer all assets off their balance sheet to limit healthcare expense exposure (I.e. healthcare surgery ends up being $1m, have to declare BX) but we’re still researching various ways to accomplish this in the most tax and cost efficient manner.
obviously will be meeting with tax or estate planning professionals, but wanted to see if any users here have been in a similar situation and how they came to solution (trust, LLC, etc).
Ideally would like to hang onto the assets forever vs. liquidating and re-deploying, and still have the rental income supplementing living expenses for my parents. I work full time and don’t need the money.
Hi UCSDThrowaway, any of these discussions helpful:
More suggestions...
You're welcome.
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