Question for the Money Doctors
Question submitted on Oct 17, 2013.
QuestionMy father (82) and wife need more care and a sister has volunteered to add an in-law apartment on to their house. Dad will pay, but since the house is titled in my sisters name, would this be considered a gift to her from Dad?
Not really. Remember that unless dad has a BUNCH of money any gift is non taxable to the recipient, and "deducted" from his estate tax deduction. IN most cases this is a non event
It can also be claimed that this is not a gift but rather dad''s housing expenditure.
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