The 4 D's (or why you shouldn't give your house or other property to a relative for $1)

At our elder law firm, we often get asked by clients, "why can't I just give my house (or another piece of valuable property) to my adult children or other relatives for $1 in order to avoid inheritance tax and other potential tax or future lien consequences?" In short, you can, but we generally don't recommend it. Why not? Because of the 4 "D's." What are the 4 D's? Long-Term Care Planner Tammy Zilske explains in this episode.