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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: 5 years ago.
Category: Tax
Expert:  Lev replied 5 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 other Tax Specialists are ready to help you

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