How To Leave Your HOUSE To Your KIDS (Avoid Additional TAXES)

Would you like to learn more about passing down property to your children? Schedule a free consultation here: https://aba.link/4ns8 In this video, Toby Mathis will show you how to avoid one of the biggest (and most common) mistakes people make when trying to pass their home down to their kids. Accumulating assets like real estate is a major goal for many families—but passing those assets on the wrong way can create massive tax consequences, legal headaches, and even family conflict. You may be asking yourself… What’s the best way to leave my house to my kids? The answer might surprise you…because some of the “simple” strategies people use can actually cost their family hundreds of thousands of dollars. Although it may seem easier to just add your kids to the title or gift them the property, those shortcuts can trigger gift taxes, eliminate key tax benefits like the step-up in basis, and create unintended risks you never saw coming. Toby Mathis brings years of experience helping individuals and families protect their wealth and structure their assets the right way. In this video, he breaks down complex tax and estate planning concepts into simple, practical steps you can actually use. Lastly, we would like to extend a thank you to everyone in our community. For helping us to grow and continuing our mission of spreading knowledge and aid to others, we appreciate all of you. Seeing as we upload regularly, we hope that all of you will join us again in the future and till then, consider checking out our website. Show Notes 0:00 - Intro 0:21 - The biggest mistake when leaving your house to your kids 1:21 - Why “avoiding probate” can backfire 2:18 - Option 1: Gifting your house (major tax mistake) 5:03 - Option 2: Adding your kids to title 6:32 - Option 3: Transfer-on-death (TOD) deed explained 8:25 - The real problem most plans ignore (family conflict) 8:30 - The best option: Using a living trust 10:22 - Why a will (and doing nothing) fails 11:06 - Simple breakdown of what actually works 11:56 - Summary --------------------------------------------------------------------------------------------------------- FREE TAX & ASSET PROTECTION WORKSHOP Register for an upcoming workshop today if you want to protect your business and personal assets from snoopy lawyers and creditors. Save Your Seat: https://aba.link/btp8 ~~~~ FOLLOW US: Instagram: https://aba.link/instagram Facebook: https://aba.link/facebook Twitter: https://aba.link/twitter LinkedIn: https://aba.link/linkedin TikTok: https://www.tiktok.com/@tobymathisesq ~~~~ CONTACT US Phone: 800.706.4741 Email: info@andersonadvisors.com Fax: 702.664.0545 ABOUT TOBY MATHIS Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba --------------------------------------------------------------------------------------------------------- WARNING: I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name, and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture. The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. #EstatePlanning #AssetProtection #TaxStrategy #InheritancePlanning #Trusts