In December 2024 my Dad said he is moving out of his home into a Senior Living community and is selling the house. He wants me to have the money. He has a living trust and is the sole trustee. My mom had passed away in October 2024. I am the successor trustee. I am an only child (no siblings). I told him his house is part of his estate and that I consider to sale of the house part of his estate. I would not do anything with this money until his passing or he needs greater long term care (such as an Assisted Living Home). I discussed this with my broker of my Mutual Funds and IRA and he said he could set up a fixed annuity. Will this help me avoid any taxable income for this sale of his house?
