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Is It A Good Idea To Transfer Your Home To Your Children During Your Lifetime?

Transferring property to your children during your lifetime is not something that an experienced attorney would recommend.

Some consequences of giving up your property are mentioned as under:

Before you consider transferring your house to your children, you should know that the situations may not turn out to be as you envisioned, eventually leading to unfavorable consequences. If you want to make sure that your wishes are observed, get a will or trust properly drafted. Another option worth considering is Enhanced Life Estate Deed. You can also sell your house to your children. However, before you decide to give away your house, it will be wise to consult an experienced real estate attorney and get advised regarding the best method possible for the transfer of your house.