Posted on: 20th Feb, 2007 10:35 am
property is in my name and if something happens to me I want property to go to my daughter, is there a way by which probate can be avoided as I have heard probate takes a lot of time to complete and there are costs also.
If property is held as joint tenants with right of survivorship then after something happens to one of the joint tenants property automatically passes to the co-owner. And it will not require a probate.
B. Neil
B. Neil
Bary, property in living trust also does not go through probate. After grantor's death the successor trustee divides the property as per instruction given in the trust document.
Hi Bary,
Welcome to our forums.
You can transfer your property into a living trust. You can name your daughter as the beneficiary on the trust document. Also, you need to appoint a successor trustee for your living trust.
You can read more about Creating a living trust from previous community discussions.
Thanks,
Sara
Welcome to our forums.
You can transfer your property into a living trust. You can name your daughter as the beneficiary on the trust document. Also, you need to appoint a successor trustee for your living trust.
You can read more about Creating a living trust from previous community discussions.
Thanks,
Sara