Why You Should Never Give Away Your Real Estate
Giving property to a family member may seem like a simple estate planning solution, but it can leave you without control of your home and expose the property to divorce, creditors, nursing home costs, and estate taxes.
In this episode of The Legal Exchange, Todd Lutsky and Susan Powers examine a Texas court case involving a couple who transferred their home to the husband’s parents, continued living there, and later faced a complicated ownership dispute after divorce. They also discuss why estate plans and beneficiary designations should be reviewed during a divorce, how the caretaker child…
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