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My husband and I own our home and have no mortgage. The house has been paid for by both. I have premarital monies and another property solely in my name. I would like to use my premarital monies that have never been commingled and sell my condo solely in my name as well, so that my husband and I can have money for retirement. However, I have two grown children and my husband has five from his prior marriage like myself. We have been considering selling our home and moving into my solely owned condo this way we can have the money from the house for retirement. However, my husband would like to stay living in our house as appose to moving into my condo. He is willing to sign/or quitclaim his share of our home to me, if I sell the condo and bring in another premarital savings account and we can use this money for retirement. This way, if I die before him he can stay living in the house but upon his death, my children would get the house. Is this possible? Also, as a married couple we would not be responsible for paying any tax unto 450,000.00. If he quitclaims his share or gift his share to me would my children then be responsible for taxes if I added their names to the deed with me or if I kept the deed in my name alone, could I will my home to them? or would my husband still be entitled to a percentage or my home after my demise? Thank you. What would be the best route for my intentions?

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Anonymous (not verified)
13-01-2015

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