Hammond, LA asked in Estate Planning and Real Estate Law for Louisiana

Q: Can I gift my mortgaged house to my daughter now, (pre death), to avoid probate or other issues after my death?

I am currently making a will/trust who names my daughter as beneficiary of my property, however, I am unclear about a mortgaged property and how it is handled.

1 Lawyer Answer
Randy Bryan Ligh
Randy Bryan Ligh
Answered
  • Baton Rouge, LA
  • Licensed in Louisiana

A: There are potential income and tax consequences depending on when you make the transfer and how you accomplish this----as such, I recommend that you at a minimum, seek a consultation with an estate planning attorney to discuss your objectives and how to accomplish them---and if, after meeting with the attorney (s), then you might want to hire one to represent you in this. Good luck.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.