The transfer of real estate assets from parents to their offspring represents a significant financial decision with long-term implications. For instance, a family home might be deeded to children during the parents’ lifetime. This contrasts with inheritance, which occurs after the owner’s death.
Such lifetime transfers offer several potential advantages. They can facilitate estate planning, potentially minimize future tax burdens, and provide financial security or stability for the younger generation. Historically, land or property ownership served as a primary means of intergenerational wealth transfer, reflecting societal values and economic structures. Today, it continues to be a crucial aspect of family financial planning.
