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Hi,
My first post here. My friend is after help and advice and maybe the best tactics to use to navigate this issue. She is single (divorced a long time ago) and has a son in his 20's. She owns a large house which is currently not habitable worth around 1.5-2 million (nice problem to have). She is unemployed with a small amount of savings around 10k. She wants to avoid paying taxes and also wants to pass the property on to her son. She won't sell the house. A solution would be nice, but more realistically a strategy about how to go about this would be better.
Of course a sensible answer would be to approach a specialist and pay for advice, but out of the few she has contacted, they seem to give opposing views. It is quite obvious that they are just trying to get her to pay them as much as possible because of the value of the house. Trying to work out a sensible path forward is why I have posted this. Any advice would be welcome.
Thanks.
My first post here. My friend is after help and advice and maybe the best tactics to use to navigate this issue. She is single (divorced a long time ago) and has a son in his 20's. She owns a large house which is currently not habitable worth around 1.5-2 million (nice problem to have). She is unemployed with a small amount of savings around 10k. She wants to avoid paying taxes and also wants to pass the property on to her son. She won't sell the house. A solution would be nice, but more realistically a strategy about how to go about this would be better.
Of course a sensible answer would be to approach a specialist and pay for advice, but out of the few she has contacted, they seem to give opposing views. It is quite obvious that they are just trying to get her to pay them as much as possible because of the value of the house. Trying to work out a sensible path forward is why I have posted this. Any advice would be welcome.
Thanks.
