@ryan_nork: 🎅 Never Leave Your Kids Your House In Your Will 🎄 When you have owned your home for a long time, the value has appreciated massively. If you transfer your home to your kid’s name or leave it to them in your will, your kids will be responsible for all of the capital gains taxes as if they were buying it at full price. After the government takes their portion, your kids will be lucky to get 65% of your home’s value, that you worked for and paid off for them. However, instead put your home into a Trust and name your kids as the beneficiary. This will allow them to receive the house tax free from a Stepped Up in Cost Basis and begin your families generational wealth through real estate. #realestate #realestateinvesting #investing101 #livingtrust #generationalwealth

Ryan Nork

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Friday 27 December 2024 02:43:36 GMT

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Comments

Vakes :

In South Africa, everything gets taxed.....A living trust in SA are taxed at a flat rate of 45% on their income....😑

2025-02-28 20:02:19

PersianRose234 :

I’m not going to transfer anything to my kids, cause while I’m alive they never have time for me, they don’t deserve it, I shall give myself the biggest departing party 🥳🥳🥳🤣🤣 from a loving parent

2025-02-27 12:10:09

Norman Holleman :

In America maybe, not in NZ

2025-03-03 04:18:33

oldtimer588 :

You are so wrong. They get step up basis when you leave it to them in your will. I’m a CPA

2025-01-10 02:26:15

Rashieda Solomons :

Wish that could go in south africa

2025-03-04 13:58:54

Deborah Dean :

I added my son's name to my deed so now we are both the owners

2025-01-14 12:48:14

Luciana Faustina Cook Toutai :

Not correct. It's different in every country

2025-02-26 00:49:43

Steve Jones2888 :

just put the house in kid name

2025-01-07 19:55:30

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