Do not add your child's name to the deed to your home


Adding your child's name to your home will make your home subject to their creditor claims. Instead, to avoid probate in Florida, use a trust, enhanced life estate deed or a lady bird deed.


Attorney Tom Olsen: Antonio, you're on News 86.5, Antonio. Go ahead.

Antonio: Thank you for taking my call. The reason I was calling, I was wondering if you own a property and you want to do a joint tenancy with right of survivorship with your child, do you have to pay any gift tax for that?

Attorney Tom Olsen: I would say the answer would be no, or at least I would not be concerned about it, Antonio. You can check with your accountant or CPA, but from a gift tax perspective, I would not have a problem with that. Now, Antonio, what are you thinking about doing? What piece of property is this that you're speaking of?

Antonio: My home.

Attorney Tom Olsen: Antonio, I would never suggest to you that you add your child's name to the deed to your house. Why? Because if your child gets in a terrible automobile accident, works up a million dollars of medical bills, files for bankruptcy, gets divorced, doesn't pay his income taxes, your child's creditors are coming after your home because your child's name is on the deed to your home. Antonio-

Antonio: How could I-

Attorney Tom Olsen: If you're trying to avoid probate on your home, Antonio, we have a great tool for avoiding probate, it's called a ladybird deed. I would prepare that deed, it would state that as long as you are alive, it is your home to do with that as you please, but upon your death, your home would automatically go to your child or children, no headaches, no hassles, no probate. Now, Antonio, if you want more information on an enhanced life say deed, also known as the ladybird deed, we have a booklet for you and we're happy to mail it to you.

If you want that booklet on easy ways to avoid probate on your home, it starts by calling or texting Chrissie, at 407-808-8398. Now I'm going to give that phone number out again but I'm going to say this, that when you call or text Chrissie to get your booklet on easy ways to avoid probate on your home, leave your name and clearly state it, please. Spell it if it's a difficult name, leave your address and that way Chrissie does not need to call you back, all we need to do is pop it in the mail to you, so you want the booklet on easy ways to avoid probate, then you call or text Chrissy 407-808-8398, Antonio. That's my recommendation to you.

Antonio: Okay, thank you.

Attorney Tom Olsen: All right. Bye-bye.