5 Risks of Putting Your Child’s Name on Your House Deed.
Putting your child’s name on your deed may seem like an easy way for your child to inherit your house upon your passing, a way to avoid probate, or a solution to ensure your home is not counted as a resource for Medicaid at the time you need nursing home care. Unfortunately, putting your child’s name on the deed can have adverse consequences that may be far more costly than a well-advised estate plan. The following are some important factors to consider before putting your child’s name on your house deed:
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Trusts for Family Members with Addictions
The news each week is fraught with stories of individuals and families caught up in the opioid crises, where loved ones struggle with addiction, and often succumb to overdoses. Unfortunately, substance abuse addiction strikes close to home for many families, impacting as many as one in seven Americans. Prior to becoming a lawyer, I worked as a mental health therapist, helping hundreds of families navigate various life complexities, including addictions. Unfortunately, addictions of all types are common in our society, including alcoholism, gambling, gaming, sex, social media, etc. Helping a loved one experiencing addiction is complex, and at times overwhelming. One thing all families struggling with an addicted loved one have in common is that we all want our loved ones to be safe, and we all hope one day for a successful recovery.
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Why Do I Need A Will? Doesn't My Spouse Inherit All of My Assets Anyway?
Many people believe if they die while they are married that everything they own will automatically go to their spouse. Although there are state laws in South Carolina known as intestacy rules that apply if someone dies without a will, just because you are married does not mean that your spouse will be the automatic beneficiary of the assets of your estate.
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