Don't Give Your Children Your Home in An Attempt to Avoid Probate
Many of our clients wish to transfer title to their home in an attempt to avoid probate, save the home, and avoid nursing home expenses. Adding an adult child to your home deed, or giving title to your home outright, is usually not a smart thing to do. Yes, transferring your home to your adult children while you are alive might avoid probate (at least for that asset), but gifting your home also can result in a unnecessary tax bill and put your house at risk if your adult children get sued, divorced, or file for bankruptcy.