Can house be willed out to minor child?

What is the name of your state? NJ
Hi, my father was just diagnosed w/ a terminal cancer and is planning on revising his will. He wants to leave his house and all savings and investments to me (only child) however, due to bad debt and other issues I am concerned about this. Is it possible for him to leave the house to my minor child (14) and appoint me as the trustee or executor of his estate?

myserenity71 said:

What is the name of your state? NJ
Hi, my father was just diagnosed w/ a terminal cancer and is planning on revising his will. He wants to leave his house and all savings and investments to me (only child) however, due to bad debt and other issues I am concerned about this. Is it possible for him to leave the house to my minor child (14) and appoint me as the trustee or executor of his estate?

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Is the debt yours or your fathers?

Is the house paid for?
What is it worth if sold?
How much debt is there?

Does he have a surviving spouse (wife)? If so he needs to make a provision in his will to leave her something and consult with an attorney to find out what she is legally entitled to as far as a share in his estate.

Leaving a home to a minor could be done but is not advisable. Better for you to get it and then you leave it to her in your will. Or, if there is not enough money in the estate to pay the debt, you may be forced to sell the home to get enough money to pay off the debt.

To avoid probate, he could fill out a beneficiary designation form at each savings and investment institution to name you as beneficiary so the money would become automatically yours when he dies.

Yes the house is paid for.
It is worth approximatley 400,000.
My personal credit debt is not really that bad, however, about ten years ago I went thru a rough period in my life and was on public assistance (for myself and 3 children). I am sure that the state would like their money back (and rightfully so) but I would like to postpone any type of repayment to the state until I get the house fixed and sold...
I was wondering why it is unadvisable to put anything in the name of a minor child? Could you give me more details on that? Thanks, I appreciate your help!