Unmarried couple questions how to leave property to their son
Q: I have a question about adding a name to the deed of a house. My boyfriend (we have never married) and I have one son together. Our son has my last name and is now an adult. My boyfriend is the one who bought the home we live in and the home is in his name.
He is now thinking about the future in case something should happen to him. He is trying to have our son avoid probate in case he dies, but he isn’t sure what to do and how to do it. There is no mortgage on the house.
We now are in our 60s and want to do something. What do you suggest?
A: We’re glad you’re asking these questions now, when you’re both still reasonably healthy. Most folks don’t do much to take care of their estates when they are young, perhaps because they can’t imagine ever getting old or sick. But at some point, most of us realize we’re not going to live forever, and that’s when we decide to review what we have, what we owe, and who we’d like to leave things to after we’re no longer walking the earth.
While we appreciate that your boyfriend wants the house to go to your son, what will happen to you if he precedes you in death? Shouldn’t the house pass to you first, so you have somewhere to live? When you think about and plan an estate, you have to think about all of the possibilities that may come to pass and affect outcomes. For example, if your boyfriend and son get into a fatal car accident, we imagine your boyfriend would want you to end up with the house.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest LifeStyle News Click Here
For the latest news and updates, follow us on Google News.