Property for Grandchild / Children

[Bernie Huckestein]

I will be a first time and new Grandfather early summer 2018 -- stoked about that for sure!!

I'd like to purchase a 1 - 4 unit right after birth on behalf of the child...when he/she graduates from high school he/she would have this property free and clear...could then leverage it for more investment, keep renting it and enjoy the cash flow, sell it to pay for college...whatever.

What is the best way to proceed with this so that I maintain control for approx 18 years but then pass it on...what about taxes for the 18 years...how to transfer the property or is it titled to and infant?

I am sure I am not the first one to do this...appreciate the ideas on the best way to set this up and manage.

Thanks, b

[Dean H.]

Bernie Huckestein
Congratulations on the grandchild, I have my first due mid January and am kicking the same idea around. One idea I have is purchase in a llc and gift ownership of it when the time comes. One thing to keep in mind is not all children turn out as we expect, I’m sure yours and mine will be perfect but seriously I think we have to maintain control until a point is reached in both age and maturity where the assets will be used constructively. I’m sure a expert will pop up and let us know the proper way to do this