Dear Monty: My husband and I are in our 70s. We are thinking about leaving our home to our kids when we are both departed. We are a close family, and they all enjoy coming home with their kids. We have received advice from our friends. Some think it is a beautiful idea, and others think it is not a good idea. Any thoughts you could share would be appreciated.
Monty’s Answer: Leaving your home to the kids is not an easy decision. Many people have done this with no adverse consequences. Others have done so and created divisions between their children. Your children’s circumstances and ideas may change over the time you include your wishes in your last testament and the time of your passing. Many events, including financial, health, or employment-related, could affect an offspring’s willingness or ability to participate. It could also be that your wishes bring happiness and fond memories to the next generation.
