If my father would like to transfer a piece of property to me instead of doing a Will, is there any way to transfer to me with out a heavy tax burden on myself at the time of transfer?

Asked on September 3, 2015 under Real Estate Law, Texas


B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

You need to talk to a wills and probate attorney.  There are a number of instruments that your dad can choose from to convey the property to reduce the tax consequences.  For example, Texas allows what are called "lady bird" deeds that transfer property with minimal tax consequences. 

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