 You know each week in my in my office I see lots of estate planning clients with lots of typical problems But something happened this week that I think is worth knowing about a man came in with his son and He had placed his son's name on His home's deed so in other words dad bought the house years ago for safe I don't remember let's say fifty thousand dollars and put his son's name on the deed in 2017 when the house is worth $900,000 because the dad reasoned to me that when I pass away, I just want automatically to go to my kid Why not give it to him now, or why not put his name on the deed? Big problem, and this is how we work to solve that. We're gonna have to go to court to clean that up We want you to avoid this pitfall What it is is this when you put a child's name on a deed or any loved ones or anyone's name on a deed or Stock or business or whatever you know what you've done is transferred the basis Remember I said it was fifty thousand dollars To that son Therefore when the son goes to sell the house He's gonna pay a capital gains tax between the current market value, which was 900 and something and the fifty thousand dollars That his dad paid for the house so in the words when dad bought the house at fifty thousand dollars By putting his kid's name on the deed It's as if his child bought the house for fifty thousand dollars There's pitfalls here, and they can be avoided with proper legal advice Don't let this happen to you