How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask lwpat Your Own Question
lwpat, Attorney
Category: Legal
Satisfied Customers: 25386
Experience:  Actively practicing trial attorney
Type Your Legal Question Here...
lwpat is online now
A new question is answered every 9 seconds

My wife and I own a property with market value of about $260,000.

This answer was rated:

My wife and I own a property with market value of about $260,000. If we want to give the property to my daughter by giving her each year the value within the anuual exclusion of gift tax---$26,000 per couple, how to file it? Do we have to change the grand deed every year with percentage of each ownership being changed every year as well?
Followup questions WILL be answered if my first answer is acceptable. Subscription customers. An ACCEPT is credited to me but you are not charged.

All you have to do is to give them a quit claim deed every year for a percentage of the property.
lwpat and 3 other Legal Specialists are ready to help you

Related Legal Questions