I am not clear what it is that I can do before the end of the year, that I cannot afterwards.

From reading a couple of articles, I think that if you want to transfer the ownership of your villa, the figure that you can use is the total cost plus inflation, as long as you have all the paperwork to back it up. Any suggestion ?
Thanks,
Jordan

Take your time and analyze the various scenarios and the respective costs/benefits. Then make up your minds and action the best fit plan.
Each case is a case, so, nobody can give a straight out recommendation. Talk to somebody who can do strategic tax planning and who knows how to use the legal loopholes.
Thanks,
cameron