Creating a company to rent out my house?

[Jo Pokalalsky]

My father lives in New York State and is in his twilight years.  He wants to keep his residence in the family and intends to put it into a revocable trust.  I'm likely going to be a Trustee and I'm wondering if there is any financial advantage to my Dad creating a corporate entity and transferring the house to the company, and then the company to the Trust.  To my knowledge, the property, which is 99% of his net worth falls way under the mark to be subject to estate taxes, but I'm not sure. 

Any thoughts from experienced RE investors?