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Reverse Mortgage- why do one?
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Boone & Crockett
Posted 2/25/2021 15:16 (#8857693 - in reply to #8857670)
Subject: RE: Reverse Mortgage- why do one?


Galaxie64 - 2/25/2021 14:57

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.
unified credit. Give the whole exclusion away in one fell swoop...
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