Legal Question in Real Estate Law in Florida
Childrens name on title
We are moving to Florida from Pennsylvania and are buying a retirement home in a community. Would it be better to include my two children along with myself and spouse on the title so the children (who are adults) would not have to pay the enheritence tax when we pass on? Ot should we just keep it in the will as 50/50.
Asked on 6/19/03, 4:26 pm
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
Re: Childrens name on title
You purchase it as husband and wife with right of survivorship. Children do not go on deed. Good luck and welcome to Florida
Answered on 6/19/03, 4:44 pm
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Childrens name on title
Without knowing more about your financial position, there is no need to take title as husband and wife with right of survivorship. Perhaps you should consult with counsel with regard to the tax implications.
Answered on 6/19/03, 4:49 pm