I would like to give my property to my daughter will there be taxes?

I want to quitclaim deed my

Asked on March 26, 2018 under Real Estate Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You are doing some estate planning and that is great.  Texas does not have a gift tax from what I can tell and the Federal level is around $5 million.  If you are afraid of any kind of issue to her perhaps seek some counseling about adding her to the deed with a right of survivorship and filing same.  Then it just becomes hers automatically when you pass away.  Good luck.


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