What Are the Pros and Cons of Adding My Adult Daughter to the Title of My Home?
- October 9th, 2014
While we can’t go into all the details here either of the pros and cons or the various alternatives, the main advantage of adding your daughter’s name to your house is that doing so will avoid probate and make it easier for her to take possession upon your death. The main disadvantage is that the property will be subject to claim for your daughter’s debts and could even come into the picture if she were to get divorced.
For more on the different ways to co-own property, click here.
Local Elder Law Attorneys in Ashburn, VA
Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...