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Primary Tax Considerations in Planning for Succession to Family Homes

Estate planning for the succession to family properties requires careful consideration of a number of complicated, and sometimes conflicting, tax laws. In this Analysis, Nancy G. Henderson discusses primary tax considerations in estate planning for family homes. She writes: A significant assumption...

Outright Gifting of Property Interests

From the donor's perspective, the simplest alternative for transferring a family home to children and grandchildren is to make outright gifts of real property interests. In this Analysis, Nancy G. Henderson discusses gifting with the annual exclusion, issues with gift tax, a relevant perspective...

Tax Strategies for Transferring Family Homes

Outright Gifting of Property Interests From the donor's perspective, the simplest alternative for transferring a family home to children and grandchildren is to make outright gifts of real property interests. In this Analysis, Nancy G. Henderson discusses gifting with the annual exclusion...

Transferring Family Homes: Family Limited Partnerships, LLCs, and Trusts

An alternative to gifting direct interests in a family home to children or other family members is to transfer the property to a family limited partnership (FLP) or a limited liability company (LLC) and to make gifts of interests in the partnership or LLC to children or other family members. In this...

Tax Planning Strategies for Transferring Family Homes: Dynasty Trusts

If a property owner intends for property to remain in trust for the use and enjoyment not only of the owner's children, but for future generations of descendants, a "dynasty trust" can be an excellent vehicle to accomplish this objective. Careful consideration must be made as to the effect...

QPRTS and PRTS: Planning Strategies for Transferring Family Homes

As an alternative to gifting direct interests in a family home to children, a donor can establish an inter vivos trust for the benefit of children or other family members and make gifts of interests in the property to such a trust during life. There are many different types of trusts that a donor should...

USC Gould School of Law 2010 Tax Institute: Tax Planning Strategies for Transferring Family Homes -- Dynasty Trusts by Nancy G. Henderson

If a property owner intends for property to remain in trust for the use and enjoyment not only of the owner's children, but for future generations of descendants, a "dynasty trust" can be an excellent vehicle to accomplish this objective. Careful consideration must be made as to the effect...

USC Gould School of Law 2010 Tax Institute: Tax Planning Strategies for Transferring Family Homes -- Dynasty Trusts by Nancy G. Henderson

If a property owner intends for property to remain in trust for the use and enjoyment not only of the owner's children, but for future generations of descendants, a "dynasty trust" can be an excellent vehicle to accomplish this objective. Careful consideration must be made as to the effect...