Losing your home in a divorce

3 Jul 2024 · 1 min

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0:43

In this brief advisory video, the speaker cautions homeowners against adding their child's name to a property deed as a means to avoid probate. He recounts a case where a man did exactly that, only to have his child's later divorce lead the court to attempt to split the child's half‑ownership of the home. The speaker explains that the safer approach is to place the house in a trust and name the child as the trust's beneficiary, thereby protecting the asset from divorce proceedings. He concludes by urging viewers to subscribe to his newsletter for more guidance.

Chapters

If you're considering putting your child's name on your deed, in other words, just making your child joint owner of your home so that they can avoid probate when you die, you might want to listen to this. A man came to see me who had done exactly that. So on the deed to this man's home was his name and his child's name. A couple years later, this man's child gets involved in a nasty divorce. Guess what the divorce court is trying to decide? The divorce court is now trying to decide how to split up the son's half ownership in my client's home. The way to have done this would have been to put the house into a trust and make the son the beneficiary of that trust. Don't make this mistake. Get my newsletter in my profile link.