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Listen "The Hidden Risks of Putting Your Kids on the Title"
Episode Synopsis
Episode Summary:
In this episode of Estate Planning Beyond the Binder, Brian Chew, Managing Partner at OC Wills & Trusts, tackles a common but risky estate planning shortcut—putting children on the title of a home. Brian explains why many parents consider this strategy to avoid probate, but also reveals the serious downsides, including tax consequences, creditor risks, and loss of control. He breaks down California-specific issues such as Proposition 19, the step-up in basis, and property tax reassessments. Brian also outlines safer alternatives, including revocable living trusts, that protect assets while preserving flexibility for parents and tax benefits for heirs.
Key Timestamps:
00:01 – Show introduction
01:15 – Why parents put children on title to avoid probate
03:20 – Risks of unexpected events and joint ownership complications
06:05 – How children’s creditors and lawsuits can endanger property
08:30 – The tax downside: losing the step-up in basis
12:00 – California’s Proposition 19 and property tax reassessment issues
15:40 – Why revocable living trusts are a safer and smarter alternative
18:10 – What to do if you’ve already added children to a title
21:25 – Permanent consequences of property transfers vs. revocable trusts
24:00 – Final thoughts on why control and flexibility matter in estate planning
About the Show:
Estate Planning Beyond the Binder breaks down essential information about protecting your loved ones and assets through effective estate planning. The show makes estate planning simple and doable for married couples, homeowners, business owners, and anyone thinking about their future. Featuring Brian Chew, founder of OC Wills and Trust Attorneys.
In this episode of Estate Planning Beyond the Binder, Brian Chew, Managing Partner at OC Wills & Trusts, tackles a common but risky estate planning shortcut—putting children on the title of a home. Brian explains why many parents consider this strategy to avoid probate, but also reveals the serious downsides, including tax consequences, creditor risks, and loss of control. He breaks down California-specific issues such as Proposition 19, the step-up in basis, and property tax reassessments. Brian also outlines safer alternatives, including revocable living trusts, that protect assets while preserving flexibility for parents and tax benefits for heirs.
Key Timestamps:
00:01 – Show introduction
01:15 – Why parents put children on title to avoid probate
03:20 – Risks of unexpected events and joint ownership complications
06:05 – How children’s creditors and lawsuits can endanger property
08:30 – The tax downside: losing the step-up in basis
12:00 – California’s Proposition 19 and property tax reassessment issues
15:40 – Why revocable living trusts are a safer and smarter alternative
18:10 – What to do if you’ve already added children to a title
21:25 – Permanent consequences of property transfers vs. revocable trusts
24:00 – Final thoughts on why control and flexibility matter in estate planning
About the Show:
Estate Planning Beyond the Binder breaks down essential information about protecting your loved ones and assets through effective estate planning. The show makes estate planning simple and doable for married couples, homeowners, business owners, and anyone thinking about their future. Featuring Brian Chew, founder of OC Wills and Trust Attorneys.
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04/06/2025
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