My father lives in New York State and is in his twilight years. He wants to keep his residence in the family and intends to put it into a revocable trust. I'm likely going to be a Trustee and I'm wondering if there is any financial advantage to my Dad creating a corporate entity and transferring the house to the company, and then the company to the Trust. To my knowledge, the property, which is 99% of his net worth falls way under the mark to be subject to estate taxes, but I'm not sure.
Any thoughts from experienced RE investors?