It is the most common piece of kitchen-table planning in New York. A parent is worried about a nursing home taking the house, so they add a son or daughter to the deed and assume the problem is solved. It usually is not. Adding a child to the deed puts the largest tax benefit your […]

I often receive phone calls from potential clients asking whether, as an estate planning and elder attorney, I recommend that they add their children as co-owners to the deed of their house, co-op, or condominium. The callers are usually concerned with avoiding probate or protecting their home from Medicaid if they need long term care. […]