Reported about 7 hours ago
In this episode of 'Wealth with Brad Smith,' estate planning expert Jere Doyle discusses tax-efficient strategies for passing down a home, which is often a significant asset. He outlines three main methods: gifting the home while alive, selling it to children, or having them inherit it after death. Gifting can lead to tax implications due to capital gains, while inheriting allows for a stepped-up basis, making it the most tax-efficient option. Doyle highlights the potential complexities of each method, pointing out that simplicity often works best in estate planning.
Source: YAHOO