Legal Question in Wills and Trusts in Ohio
Adding my daughters name to all my property
I am a single mother and I do not plan to ever get married again. My daughter is 19 years old. I would like to put the titles to my vehicles in my name and my daughters name...such as Mother and/or Daughter . This way if anything were to ever happen to me (Im 38) she would not have a problem. Both the vehicles I own are paid off.
Do you see any reason as to why I should not do this?
I would also like to put my home in her and my name too, but she has not established credit and I think it may ruin her credit rating if I put her name on the house. The house is not paid off.
And if I did put her name on all my property and she married, would her husband have a claim to the property? If Im dead I dont care, but if I were alive thats another story.
Thank you
2 Answers from Attorneys
Re: Adding my daughters name to all my property
Adding her as an owner of your home and cars subjects your assets to her creditors. I would not do what you suggest for several other reasons, including her husband having a dower interest in your home if she is in title with you.
Re: Adding my daughters name to all my property
I would not recommend adding your daughter's name to your property or cars. You are allowing your assets to be subject to her creditors. A safer alternative would be creating a transfer on death deed for the home, where your name is still the only name on the property but will transfer to her on your death. Check with your county to make sure that this type of deed is valid there.