Should I Transfer My House To My Kids?
For many people, a home is an important asset that can be approached in various ways when it comes to estate planning. Some individuals choose to simplify their estates by transferring their houses to their children, often by deeding their home directly to a child or children or by putting a property into a trust.
If you are asking the question, “Should I transfer my house to my kids?” you may be concerned about your exposure with regard to the cost of long-term care or you may have specific concerns about taxes. The answer will depend on your situation. In developing a plan that will help you achieve your goals, numerous factors should be explored with the help of an experienced elder law attorney at Rice & Quattrone, PC.
Transferring Wealth And Keeping Property In The Family
At our firm, we have been handling important matters related to elder law and estate planning since 1991. Our attorneys can help you explore your options for transferring wealth and keeping property in the family.
If you are undecided about what to do with your home, we can answer questions like:
- What are the advantages of selling my house? What about capital gains?
- What if one of my kids gets divorced in the future?
- What if one of my kids ends up having problems with creditors?
- If I do want to transfer my house, is the establishment of a trust the best way to do it?
Every estate is different. Get advice from a qualified elder law attorney if you need assistance with your estate.
Discuss Your Concerns With Us
Our attorneys at Rice & Quattrone, PC, are admitted to practice in New Jersey and Pennsylvania. We serve residents of those states and as the local representatives for out-of-state executors and beneficiaries of wills and estates in New Jersey and Pennsylvania probate courts.