If my elderly parents own a home nd I would like them to add my name to the deed should anything happen to them, what is the best approach?

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If my elderly parents own a home nd I would like them to add my name to the deed should anything happen to them, what is the best approach?

Asked on December 4, 2012 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I suggest that you parents consult with a real estate attorney about the matter that you have written about in that the mere adding of your name to your parents home could result in some gift tax issues for them that they never intended. They might consider just giving you a power of attorney over themselves and their assets in the event something happens to them.


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