My father and sister are deceased. I have no living siblings. My mother is 92. More than 5 years ago, she legally put her home/land in my name with lifetime rights for her to live there. I am concerned about the future if I sell it after her passing. I have lived in the home since 1985 when my parents built it.
Will I have to pay capital gains tax after selling it?
Can it be put in a revocable trust to help avoid Capital gains tax. If so, would my mother have an attorney do this or would I do this? Thank you!
