Downs Law Firm, P.C.
Deciding how to transfer your home to loved ones requires careful planning to minimize taxes, avoid probate and protect your family’s financial future.
I am the beneficiary on my father’s life estate deed of his home. He passed in October 2018. I am wanting to sell the house and have not filed a warranty deed to put the house in my name. Also, the life estate deed is via power of attorney because my father had Alzheimer’s and at the time of the preparation of the life estate deed, would not have been considered able to make such a decision.
While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.
As life estate deed with reserved powers grow in popularity, it is important to discuss and understand the benefits and limitations of these deeds.
If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
Estate planning is a cornerstone of any healthy financial plan, but it can be difficult to discuss.
My mom wants to leave her house to me, since I’m the only girl. My brothers may try and contest this in probate court. What can my mom do to be sure I receive ownership of the house upon her death?
Unlike personal property, real property–such as real estate or automobiles–is titled to convey ownership.
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