Family Realestate entities
Hi all, I'm looking for some general tax and legal... recommendations not advice or directions to look into. So here's the run down: My mother wants to invest in Realestate with me, buy a couple rentals that she can later hand down to my brother and me later down the road. I will be running/managing all the Realestate side of things for her within this plan. My current thoughts for moving forward are to set up a trust, another possible option I see is just starting an LLC with all 3 of us as members. Does anyone have experience here? Or recommendations, or even other options if I may be missing some?
We are generally looking to avoid legal issues, or a cap gains when handing down a Realestate portfolio.
Any insight would help, and give me better knowledge and questions to present to an attorney when I move forward for setting this all up.
Thanks
Willie