June 2015 Posts

  • Do Not Add Your Children to the Title of Your House!

    In an all too common scenario, an elderly couple with modest assets may take seemingly minor steps that have devastating tax consequences. One of the most common of these mistakes is adding their children to the title of their house. Often, they do this without the benefit of advice from a legal professional because they want to avoid spending a few hundred, or even one or two thousand dollars on professional advice. What they do not realize, however, is that the result of these actions often cost their children tens of thousands of dollars in taxes once the parents are gone!...