While this is probably not a very helpful answer, I think it is the most truthful any of us on the site could give:

You should run this by your accountant or tax preparer prior to doing anything. Based on your individual circumstances, there could be very good . . . and also disasterously bad consequences of a simple deed change. Only by knowing the ins and outs of your income, estate plan, portfolio, etc can that question be answered correctly - and definitely only by a professional that can look at it from all angles, state and federal. Consider meeting with a local financial/estate planner as well so that someone has an overall plan for all assets that may be involved. Ask for local recommendations - this will be money well spent and could save you literally tens of thousands, depending on your circumstances.

Sorry I couldnt be more specific for you.