Welcome to Tips and Tricks for Today and Tomorrow, hosted by Brian Henrysen Jr., CFP®.

Today, we’re tackling a question we have been hearing more often:

👉 Should parents gift their home to their children while they’re still living in it—or hold onto it long term?

It’s a generous idea, but it can come with serious tax consequences if not carefully planned.

In this episode, Brian covers:

Cost Basis Basics: Why inheriting the original purchase price can lead to big tax bills.

🔑 Real Example: A $250,000 home bought in 2000 now worth $1 million—and the tax differences between gifting vs. selling.

🔑 IRS Section 121 Exclusion: How a married couple can exclude up to $500,000 of gain when selling a primary residence.

🔑 The Step-Up in Basis Advantage: Why waiting until inheritance could save your family $100,000+ in taxes.

🔑 Smart Planning: Factors like your parents’ tax bracket, financial needs, and your own situation.

Key Takeaway: Good intentions don’t always equal good outcomes. Before gifting property, talk through the full financial impact.

If you or your parents are considering gifting property, let’s have a conversation. Together, we can explore the smartest, most tax-efficient decision for your family.

👍 Like this video if it helped you.

💬 Drop a comment with your thoughts or questions.

🔔 Subscribe to Tips and Tricks for Today and Tomorrow for more insights.

#EstatePlanning #TaxTips #FinancialPlanning #RealEstate

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Connect With Brian:

Brian Henrysen Jr., CFP®

Financial Planner, Presilium Private Wealth

Email: Brian@presiliumpw.com

LinkedIn: https://www.linkedin.com/in/brianhenrysenjr

Meet Brian: https://www.presiliumpw.com/team_member/brian-henrysen-jr-cfp/

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This Video is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product or services.

The content of this Video is provided solely for your personal use and shall not be deemed to provide access to any particular transaction or investment opportunity. Presilium Private Wealth does not intend the information in this Video to be investment advice, and the information presented in this Presentation should not be relied upon to make an investment decision.

Any third-party information contained herein was prepared by sources deemed to be reliable but is not guaranteed. Investment advisory services are offered through Presilium Private Wealth, a SEC Registered Investment Adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser or investment adviser representative has attained a particular level of skill or ability. Additional information about Presilium Private Wealth is also available on the SEC’s website at www.adviserinfo.sec.gov.