Adding children's names to a property

<p>Many of the reasons not to do this have already been posted, but as a lawyer I have had to deal with the heartbreaking and unnecessary problems which arise from people doing things they don’t have to do in the anticipation that it will achieve some minor benefit, without knowing all of the things that can happen in the future. I’ve seen the scenario of "one house for son #1, other house for son #2 blow up into acrimony. I’ve seen living trusts abused to cheat heirs out of their share of an estate, and to delay the distribution of assets. I’ve seen litigation drag on for years over “What Dad and Mom would have wanted if they’d known…” </p>

<p>Don’t do it. Don’t promise to do it, or promise to leave anything in particular to either of your kids. Nothing good will come of it. Seriously. You may find that you need to sell the property in future years o deal with an unforeseen emergency. Your son may marry a “golddigger” who spends all of this income and drives him into debt. I could go on and on. Bottom line: If you want to give your son something give it - no strings attached. If you can’t do that, don’t do it. Leave your estate to your two kids in your will and let them decide to sell or keep whatever you own at that point so as to divide it evenly. But no strings They just make trouble.</p>