I own my home, no mortgage, am divorced and have only one child. I live in Texas and want to know how to add my son's name to my deed. He is beneficiary on everything else I have and I have no will as I don't want him to have to go through probate. If I add him to my deed will the house automatically pass to him in the event of my death?

Yes, if it's a joint tenancy with right of survivorship (or called tenancy by the entirety in some places).

The problem with doing this is that you are making a gift of half the value of the house to your child. This can cause tax consequences to you.

Quote:

---

Originally Posted by ScottGem

The problem with doing this is that you are making a gift of half the value of the house to your child. This can cause tax consequences to you.

---

What tax consequences are you talking about? The value of the house is less than $100,000 so there shouldn't be any gift taxes.

There is a limit of 13,000 per person per year that you can gift without tax consequence. There is also a lifetime exclusion, that you would probably qualify for.