Hi. New to site and am looking for some advice on how to proceed in my situation. My wife has a family trust that her father controls. She is a Trustee on the Trust and a Beneficiary too I think...not sure. We've been living in the home here in CA for almost 9 years, and her father just gifted the house out of the Trust name to her last month. It's in my wife's name alone now, not the Trust name. No mtgs on the home to pay off when it sells. We wish to sell it now and keep the money. When it was deeded to her, the value listed on the Grant Deed was $510,000....which was way too low. Realtors are telling us home is worth $565-575K....so we have it listed at $564,900 right now. When we sell the home, what kind of taxes should we expect to pay? We are trying to avoid using the money to buy another home and are wondering if that's possible. Please help.