My mother left a house to my sister in her trust. While living my mother deeded the deed out of the trust into my sister's name. Is there tax ramifications to that if my mother has not passed away yet? Second, my sister now wants to add my name to the deed. If we were to add my name, would we then have to pay taxes on that part? Is it better to leave my sister's name on it by itself and then when the house is sold, less money would be taken for taxes? Not even sure I am asking the correct question or wording this right, but thank you for any help.
