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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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I am a widow and own my home. Should I have my deed in my name

Resolved Question:

I am a widow and own my home. Should I have my deed in my name payable on death to my four children or have it i n my name only in order to avoid Probate Court?
Submitted: 4 years ago.
Category: Tax
Expert:  Lev replied 4 years ago.

Hi and welcome to Just Answer!

 

If the property will be in your name - it will be probated - and will be passed to beneficiaries according to your Will.

You may not mark it as POD - because that is not a bank account.

If you want to avoid probate - the property should be placed into the Trust (which you will create) or you may transfer the property to your heirs and retain the life estate provision.

LEV41030.7621718403
LEV :

If the property will be in your name - it will be probated - and will be passed to beneficiaries according to your Will.


You may not mark it as POD - because that is not a bank account.


If you want to avoid probate - the property should be placed into the Trust (which you will create) or you may transfer the property to your heirs and retain the life estate provision.

Lev and 2 other Tax Specialists are ready to help you

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