Do NOT Let Your Parents Give You Their House

@bestgoat3

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SoundTikTok sound · original sound - bestgoat3

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2 videos

Why it worked

The video uses a relatable, high-stakes scenario (inheriting a house) to deliver actionable financial advice, which builds authority and trust before naturally pivoting to the creator's brand.

Summary

A creator uses a skit to explain the tax benefits of using a living trust when inheriting property from parents. He concludes by recommending his own brand, Best Goat, as the source for such financial knowledge.

Structure

1Identify the problem of inheriting property
2Explain the tax implications of direct inheritance
3Propose the solution of a living trust
4Explain the benefit of stepped-up cost basis

Original caption

#greenscreen Do Not Let Your Parents pass their house over to you without putting it into a living trust and adding you as a beneficiary so you can avoid capital gains taxes and also probate

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Product placement

Best Goat is mentioned as the source of financial information.

On-screen text

Do NOT Let Your Parents Give You Their House Do what the rich do

Transcript

Do not let your parents give you the house. Instead do what the rich do. Hey son, I don't know how much longer I have, so I'm giving you the house. No, no, no dad, you cannot put that house under my name. Son, I've worked my entire life building all my assets and I'm giving you a million dollar house and you're telling me you don't want the house? No, what? Of course I do want the house, but if you put the house under my name, I am the one responsible for all the capital gain taxes. You bought the house for $200,000 and now it's worth a million bucks. And when I sell the house, I'll have to pay over $200,000 in capital gain taxes. I mean, so in this case, what do we do? In order for us to avoid paying that capital gain taxes, you can put the house into a living trust and name me as a beneficiary. That way I receive the home in a stepped up cost basis, which basically resets the cost of the home. That way I don't have to pay any capital gain taxes when I sell it. Oh, okay. Well, I guess I'll get on it. By the way, where did you even learn this? Because I'm sure they don't teach you this in school. Of course not. I learned this from just simply following Best Goat for all the money secrets.