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WY, OK | There are no reverse mortgages on land, at least nothing outside of some kind of hard money lender--now you are talking about huge fee's and interest.
I am still amazed people think they can gift away to get out of inheritance tax. It is the EXACT same amount. Unless you are a good Mormon with dozens of children and a plan to live well past 100 you couldn't give away enough at $15K a pop to make any kind of difference if you owned enough (11+ million) where inheritance tax would be an issue. 10 kids would take 7 years to just hit 1 million at the current exclusion. | |
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Reverse Mortgage- why do one?
