How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 54303
Experience:  29 years of experience practicing law, including tax and estate planning.
17027240
Type Your Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

I want my only grandson to inherit everything from me. My

Customer Question

I want my only grandson to inherit everything from me. My house still has a mortgage what is the best way to handle? Will a quitclaim deed be appropriate?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Good afternoon. My name is ***** ***** I look forward to helping you.

Can you provide me a bit more information? Are you intending to give the house to him now or only upon your death? Thanks.

Customer: replied 1 year ago.
At my death
Expert:  Richard replied 1 year ago.

Thanks for your reply. Then, you have can do this one of three ways. One, you could transfer the title to him now by quit claim deed and reserve a life estate for yourself which would give you the right to live in the property until your death. Two, you could establish a revocable living trust with your grandson as the beneficiary and then transfer title to the property to the trust now; and then upon your death, the trust agreement naming your grandson as beneficiary will control. Three, you can simply designate your grandson as your beneficiary under your will and then upon your will, the will provisions control.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!

Related Estate Law Questions