Many people believe that simply transferring their home to their loved ones is an easy way to avoid estate planning. However, there are several hidden dangers that you need to consider before making the transfer.
Estate plans can have all sorts of hidden issues. You don’t need years of study or a law degree to identify some of these very common problems in your estate plan.
Many people think it’s a good idea to just gift their home to their children. While easy to do, this is a very bad idea. Giving away your home can have huge tax implications for your children, among other problems.