property

Should I add my children’s names to my property titles?

Adding children’s names to property titles may add complication instead of smoothing the way on your death. Adding children can sometimes trigger unanticipated tax consequences; for example, as presumably this property would not be your children’s principal residence, unintended capital gains could be assessed. Adding more owners now could also create obstacles to your own […]

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I would like to add one of my children to the title of my home as a joint tenant so that she receives it when I die. Is this a good idea?

There are at least 3 things you should think about. Consider that once you’ve done that, you can longer sell the home or borrow against the home without your daughter’s consent. This limits your independence.  Further, there may be an unintended tax consequence if your daughter already owns a primary residence. Finally you may be […]

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