 How about gifting property to someone else? That is so complex. There are a lot of factors. Once in a while, that's a great idea. Most of the time, it is not a good idea. Let me show you why very quickly. Some of us know the tax code, but one of the things we don't know is section 1014 and 1015. So what that means is this. I bought this house for $50,000. That's my basis in the property. The house is now worth $950,000. That's the fair market value. Hollis gives Amy, his wonderful daughter, the house. I've just transferred my basis of $50,000 to Amy. If she sold the house the next day, Amy, you're going to pay capital gains tax on $900,000. Whenever you transfer something during your lifetime, the person you transfer it to gets your basis.