Legal Question in Real Estate Law in California
gifting to children
How much can a parent gift a child per year in dollars? How long before the death of a parent can they deed over property?
Asked on 7/30/06, 11:04 pm
1 Answer from Attorneys
Ken Koenen
Koenen & Tokunaga, P.C.
Re: gifting to children
$12,000 per year. You shouldn't deed property to children before death, because it would possibly cause them to pay capital gains tax if they sell, or trigger a gift tax.
There are better ways.
Answered on 7/31/06, 9:38 am
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