Is it possible to transfer real estate property to my son? Is there another way to secure personal property from liability?
• If there’s already some established liability, it’s too late. Or if there’s something you anticipate in the very near future, it’s probably too late. Otherwise, you can give your son property, probably for some amount like “One dollar, love and affection”. You will want an attorney to advise you about the tax and liability implications. This answer is (useful somewhat useful incorrect offensive/spam) Add new answer Add new question Email me when a new answer is posted Top • How old is your son? And I second what the first poster said about being too late for transferring if the event that causes you to be concerned for your property has already occurred. It is very simple for the courts to determine when the transfer took place and invalidate the transfer if it was for the purpose of avoiding paying a judgment, etc.
