Adding an Adult Child to Your Deed

Clients have asked me to put their adult child’s name on the deed to their home. They feel it is a simple and inexpensive estate planning technique. They tell me that it can shield them from their own creditor’s claims. However, before they make a final decision, there are several issues that need to be considered.

For example, title issues. Adding an adult child’s name to a deed gives them an ownership interest in your home. That needs to be fully considered. What about your adult child’s creditors, what about them? Or what if your adult child is married and then gets divorced, or what if your adult child goes bankrupt? These issues need to be carefully examined in depth before any decision is made about whether or not to put an adult child on your deed.

If you have questions about estate planning, please reach out to the Law Offices of George Merritts.