Think Twice Before You Gift Your House to Your Children
Giving away your home to your children before you pass away can have major tax consequences and prevent legacy planning opportunities. In spite of this, many people follow outdated advice of giving away property before they pass away.
Why You Should Set Up an Irrevocable Trust
An Irrevocable Trust is a trust that you generally cannot revoke or change. You may want to set up an Irrevocable Trust to reduce estate taxes, or even protect your property against Divorces, Lawsuits and/or Creditors. Let’s learn more about how Irrevocable Trusts are structured, and the benefits they can provide.