3 Common Ways to Transfer Your Home to Your Children: Pros and Cons

Your family home may well be the largest piece of property you own, and one that will form a large part of your estate. When it comes time to leave your home to your children there are several options available to you. Some options are more commonly employed than others, and like all other estate planning choices it’s best to discuss each of them with your attorney before you decide on the method that is right for you. Will Transfer If you create a last will and testament you can use it to transfer your home to your children. Like all other transfers made through a will, the probate court will likely have to supervise the transfer before it can be completed. In California, a transfer by will of a home worth over $50,000 will involve at least some court proceeding.  A transfer by will of a home over $150,000 will require a full probate proceeding.  Probate is often time-consuming and sometimes costly, so will transfers are one of the least desirable methods of transferring homes.


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