Question about assets in student's name .................

clarabelle18
Sun, 31 Jan 2016 13:29:58 +0000

Hi - I am a newbie and trying to plan a bit in advance. There is so much to lean, this really is a niche area. Well, About 10 years ago, the vacant lot next to our house was purchased and put it in the children’s names.(was not my decision was an inheritance) I think the cost was about 12k for the lot. It has not increased in value and even if we wanted to sell it, we probably would not find a buyer as it is a very rural area. I have two children 14 and 16. How much will this hurt the children for financial aid? Total household income is about 72k. Should we put the property in our name? We could probably attach the deed to our home. S is a sophomore so we have some time to decide.
thanks so much.
clara