Trying to decide whether it is best to sell a vacation property now, invest the money then leave to son as inheritance or simply gift the house to him now? It is in California. Trying to simplify process and avoid taxes.
Don’t gift the house to him…he won’t get the step-up in basis unless it passes through your estate. What is your current return on equity for the property ?
Those two things are not necessarily compatible.
That said, you’ve provided no useful information to help anyone answer your question. Don’t be surprised when the answers you get are completely irrelevant to you.