Homestead my son to live in my property while attending college

[Josh Hinkle]

I have purchased a home in Indiana for my son to live in while attending college. Should I pursue putting the house in his name to get the homestead tax rate? What are the implications?

[Shawn Long]

If you are concerned about your ownership I would say put it in a trust. The trust should be able to list it as the primary residence. If your son decides to damage the property or not hold up his end of the agreement you set in place than it will revert back to you. You would be the beneficiary. He would be the trustee. The main point in this type of trust is secrecy. As the beneficiary your information would not be public or disclosed. Double check with an attorney just to be sure. If you need a good attorney referral I can help you out.