Warren Buffett has an estate plan. You should too

This can get tricky, but assumptions made about what your will says versus how your home is titled can result in problems. For example, depending on the legalities attached to the type of deed on your home, adding a child to it can expose your share of the house to someone else’s creditors. Or, if you give your house to your kids while you’re still alive, you open them up to higher capital gains taxes upon its sale. In that scenario, gains would be based on the value when you bought it, not its value at your death.