Investors & landlords

You need professional tax guidance for this scenario.

 

Trusts bifurcate ownership between legal and equitable; the trustee has legal ownership while the beneficiary has equitable (beneficial) ownership. Merely adding a trustee to what appears to be a grantor trust would be insufficient to confer full ownership of the property to that trustee for federal income tax purposes.

 

Again, seek professional guidance from a tax professional and also ask your estate lawyer relevant questions about how this structure will benefit both parties, legally and from a tax perspective.