Every family is different. For some families, that might be a decent strategy for estate planning; however, for most families, that can cause severe negative tax consequences. Additionally, when you add a family member's name to an asset, now it becomes subject to their creditors.
Should I add my family members name on my assets and avoid a will? For more information: OC Elder Law, Navigating Families to Peace of Mind. 619 N. Harbor Blvd., Fullerton, CA 92832, (800) 220-4205 & 1185 Magnolia Ave. B, Corona, CA 92879, (951)264-5732. [email protected]. www.OCElderLaw.com