Don’t Look a Gift Deed in the Mouth: Should I Gift My Property or Quitclaim?
With the holidays approaching, some people might be looking to transfer property from one individual to another, or simply to rearrange their portfolio. One of the more common questions we get is whether or not gifting a property is better compared to quitclaiming a property. In some instances, when an individual gifts real property to another person, they might actually be gifting them a huge Capital Gains Tax bill as compared to if they structured the transfer in a different way. This decision is a strategic move that may involve a few key advisors, such as your attorney, financial planner, accountant, and estate planner.
Navigating the Future of Housing: How WUCIOA and Changing Attitudes Are Shaping Communities for Gen Z and Millennials
The desire for homeownership remains strong among Gen Z and Millennials, but the path to achieving it is fraught with obstacles … the need for flexibility is paramount. With unpredictable job markets, shifting career goals, and increasing mobility, the younger generations value housing options that offer less rigidity and more freedom. They want spaces that can adapt to their changing needs, and a system of governance that is responsive to their voices. This is where the Washington Uniform Common Interest Ownership Act (“WUCIOA”) comes into play.