DEAR BENNY: My parents’ house is paid off. The house is in my father’s name only; my mother has his power of attorney (and I have hers). My father is in a nursing home, recovering from a stroke, but we do not foresee him coming home (he’s 86); he’s wheelchair bound, and conversant, though with some short-term memory problems.

My father’s last will and testament leaves everything to my mother. Is there any reason to get my mother’s name added to the deed? If so, what are the legal steps one should follow to get it done? If it is done, I assume it should be joint tenants with rights of survivorship? –C.H.

DEAR C.H.: Normally, I don’t recommend putting children on title with the parents, as there can be taxable consequences. In your situation, however, I think your suggestion makes sense.

While we don’t like to think about death, it is inevitable. When both of your parents die, whoever inherits the house will get what is known as the “stepped-up” basis. That means for tax purposes, the value of the house on the date of death becomes the new tax basis of the property.

Currently, when your dad passes, you will have to probate his last will and testament. However, if your mother is added to title as “joint tenants with right of survivorship”, she will automatically own the house at that time, and probate will not be necessary.

Your mother should also have a will. In fact, in addition to a will, all of you should have a general durable power of attorney, a durable power of attorney for health, and a living will. Just make sure that your father is mentally competent at this time to prepare all of those documents.

An attorney can assist you with all of this.

Benny L. Kass is a practicing attorney in Washington, D.C., and Maryland. No legal relationship is created by this column.

Filed under: Legal Advice in Common Scenarios, Selling, Tax Issues