Non-resident investing for US citizen child
Hi,
We are non-resident foreigners who are interested in buying a condo in Michigan for our son who is a US citizen (9). He will most likely live in the US in the future (for college etc.)
How is the best way to reduce US taxes (especially capital gains and death tax) and eventually transfer the real estate to him? As we may rent it in the mean time, we were suggested to form an LLC.
Any advice or name of a competent attorney/tax person in Michigan would be very much appreciated!