All Forum Posts by: Demetrius Dykstra

My childhood home burned down in a fire and the new construction has recently been completed. My mother owns three properties and she needs to sell an asset in order to take another loan out for one of her properties. She is going to sell my childhood home for $600,000 in Everett, WA and I want to buy it from her. 

I've been doing some research into trusts and estate planning. I'm wondering what the best strategy would be to avoid taxes but also gain ownership of my mom's house.

I've heard that my mom could open a trust or LLC and transfer partial or full ownership of the property to me while dodging the most taxes by valuing the house lower and owning it under a structure.