Should I Put My Kids Names on My Home Deed?

Q: I am a senior that is on a low income and owns a small home in a small town. I am a 67 year old male that lost his wife about 7 months ago. So, only my name is on my deed. Do you think I should put my kids names on my deed now, or should I draw up a will? I would appreciate your advice here.

A: That is one way to handle it, but it would be considered a gift to them. You could also set up a Will/Living Trust. The Living Trust would allow the real estate to pass without going through probate.

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