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Can a deed transfur be done while someone is still alive

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tam2010 Joined: 22 Feb 2011 Posts: 1 1.26 Dollars($)	Posted: Tue Feb 22, 2011 3:56 pm    Post subject: Can a deed transfur be done while someone is still alive Like 0 Dislike 0 I am the trustee and Exeutor of my mothers will can I do a deed transfur over to her 3 children and I her daughter befor she dies so we can avoid a gains tax,or would we still have to pay for a gains tax regardless
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Feb 22, 2011 7:53 pm    Post subject: Like 0 Dislike 0 Hi tam! Welcome to forums! You will be liable for paying capital gains taxes only when you receive profit from the sale of the property. As your mother is still alive, I don't think you will be able to transfer the property in your names. However, if your mother wishes, she will be able to transfer the property to you and your siblings. Feel free to ask if you've further queries. Sussane

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