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Updated over 4 years ago on . Most recent reply presented by

Amit Patel's profile image
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Amit Patel
  • Investor
  • from West Hartford
  • Member since Apr 11, 2013
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Amit Patel's profile image
Amit Patel's profile image
Amit Patel
  • Investor
  • from West Hartford
  • Member since Apr 11, 2013
Connect
Amit Patel
  • Investor
  • West Hartford
3
Votes |
6
Posts
Tax, SDIRAs & Cost Segregation

Estate Planning / Tax / Gift Question

Amit Patel
  • Investor
  • West Hartford
Posted

Estate Planning / Tax Question located in CT

My parents plan on retiring over the next 5-7 years and have 3 rental properties with mortgages on them. They will have the ability to pay the properties off if needed. My question is, what is the process and considerations for them to quit claim the properties over to me. The reason they want to do this is to reduce their income to maximize social security benefit and estate planning.

Happy to ask answer any questions to clarify.

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