Both of my parents are in declining health. To protect their home we would like to add the names of their three children to their deed. How can we do this?

First of course a will would do the same thing, ( depending on its value on estate taxes) But it is an easy matter that a title company or a real estate company can do.

But since this involves their estate ( home) I would strongly suggest you contact an attorney who does probate and estate law for very good advice for your area on situation

I would not recommend this. If your parents deed even partial ownership then there may be a gift tax impact. However, if their estate will be less than $2mil then there will be no inheritance tax. It would be easier to leave the property in a will.

I would suggest consulting with an estate planning specialist for the best way to protect the estate.