If you are planning to transfer ownership of your home to your children, there are risks involved and options you can consider. Whether it is for wealth-preservation or tax-avoidance many people decide to transfer ownership but sometimes there are matters they are not considering. For example, if a spouse gets divorced, their ex-spouse could have a claim to your property. We recommend to place your home in a trust containing a “spend thrift provision”. This provision gives the trustee the authority to distribute or not with the trustee obligated to act in your best interest.
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