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Barrister, Attorney
Category: Estate Law
Satisfied Customers: 37796
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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I had asked a question regarding my disinheriting my son from

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I had asked a question regarding my disinheriting my son from inheritance. I have another question. Would I be smarter titling my properties in my name and my daughter or is there a hefty tax on doing that?
Hello and welcome! My name is XXXXX XXXXX I will try my level best to help with your situation or get you to someone who can.
If you were to add daughter to any properties as a joint owner, you would be considered to have made a gift of half the fair market value of the property to her. Although she wouldn't have any taxes as a result of the gift, you would. However, you could avoid paying any of the federal gift tax by using up a small portion of your $5 million dollar lifetime gift tax exemption and filing an IRS Form 709.
That way you could gift half the property now, put her on the deed as a joint tenant with rights of survivorship and when you pass, she automatically becomes sole owner without having to go through the time and expense of probate at all.
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