Q: I want to sign the deed of my home over to my son...I own my home out right and have no plans of selling it...
My son doesn't have my last name because I never married his mom...I did pay child support when he was young and 2 yrs ago put my name on his birth certificate as his father..We live in R.I. Can I give a 1- time gift???? What should I do??? I don't want to put him on the deed as joint tenents, I just want to give it to him so I can move out of state.....Is it a legal thing??? I need some answers
A: Speak to an attorney to discuss the impact of what you are considering. It may turn out that what you need is a will. There are tax implications you should consider as well. There are ways to achieve what you desire without having to give the house to him all at once.
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