create a tax-shelter that eliminates capital gains, recapture taxes, and give your heirs a nice tax break

Want to create a tax-shelter that eliminates capital gains, recapture taxes, and gives your heirs a nice tax break?

All you have to do is die.

You may not want to rush to take advantage of this extreme tax strategy but you should know that keeping your home until death, and in a living trust, has distinct advantages. At death, your estate avoids both capital gains and recapture taxes, and passes the home to your heirs at a fair-market stepped-up basis.

Unfortunately may people decide, without advice, to put their heirs on title with them as Joint Tenants.  The problem is the heir(s) take over at your tax basis and may have to pay capital gains and recapture taxes when selling the home.  Plus if the heirs have creditors they could then attach your home if they obtained a judgment against your heir(s).

The best advice it to get advice.  Find out more at www.dalexander.com