Should You Add Your Kids to the Title of Your Home Before You Pass?

In this video, I’ll discuss the importance of not adding your adult children to the title of your home before you pass. Doing this will protect your kids' inheritance rights and avoid paying massive taxes.

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I'll tell you the pros and cons of adding your kids to the title of your home.

🔑 Key Insight: "They ended up with a massive tax hit." 9:02

Title transfers, such as adding your children to the title of your home, can have significant financial and tax implications.

There may be more effective estate planning strategies to transfer wealth to your children without compromising your financial security, such as establishing trusts or using other gifting techniques.
It's crucial to recognize that tax laws and regulations can change, so what may be advantageous today could become less so in the future. Additionally, the specifics of your financial situation can greatly impact the consequences of adding your children to your home's title.

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Story Notes:
0:00 Intro
0:55 Joint Tenants
3:18 Gifts
4:22 Liability
4:50 Sold
5:47 Mortgage
7:02 Heirs
9:42 Warning
10:33 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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