Senior Farmer and Wife standing in field

Real Estate and Deeds

As people grow, they may want to consider transferring their home, farmland, or seasonal properties to their children, a charity, or other family members. Maintenance and repair of property can become a burden to many seniors. The financial stress to senior parents may become overwhelming. Transferring property to your adult children can save you money in many ways. Taxes may be reduced or eliminated, depending on how the property is transferred.

Each family’s situation needs to be evaluated to determine the best possible course. Will it be best for your family to have you gift it to your children? What happens if you or your spouse needs long-term care or nursing home care? Is a living trust the best choice? Will your children need to pay capital gains tax?

Brent has helped numerous families throughout the years figure out the best route to take when transferring home, farm, and business real estate to loved ones or charitable organizations.

Call Brent today at 816-233-0257 to help with your real estate transactions or transfer of deeds.

 

 

 

 

 

 

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