Tranfer Of Property From Parent To Adult Child Via LLC.
My parents are interested in reducing his estate by selling or transfering a vacation property (fully paid for) their three adult children. In order for each of us children to have equal ownership and to protect us against liability (property is rented occasionally) we are considering an LLC.
I am interested in talking with someone concerning tax ramifications for my parents - sale to llc.
Any related comments welcome.
Thanks.
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