@gigiiconicofficial: Stop letting your parents "gift" you the house while they're still alive. 🏠🚫 When they sign it over now, you inherit THEIR original cost basis. If they bought it for $100K and it's worth $500K today, you could owe capital gains tax on $400K when you sell. 😳 Put the home in a revocable living trust instead. When it passes to you at death, you get a step-up in basis, so your basis becomes the home's value on the date of death. Sell soon after, and you could owe little to no capital gains tax. Plus, the trust helps you avoid probate. 💰 Generational wealth isn't just about what you leave. It's about HOW you leave it. 🔑 Save this and send it to your parents. 📲 This is educational content, not tax or legal advice. Talk to an estate planning attorney or tax professional about your situation. #GenerationalWealth #LivingTrust #StepUpInBasis #EstatePlanning #TaxTips