Posted on: 27th Mar, 2007 07:10 pm
I wish my son to have my house when I die. I have a mortgage. He lives
in the house. I do not want my older son to inherit the house or any part
of it.
in the house. I do not want my older son to inherit the house or any part
of it.
You can create a will and clearly mention that you wish the house to be given to your younger son only. This way after your death when all your property will be divided, your older son will not be able to claim any rights on this house. After the probate procedure the house will be transferred in your younger son's name.
Welcome Nancy.
After you pay off the mortgage, you can create a revocable living trust and transfer your property into the trust.
You can make your son the beneficiary of the trust, so that after your death, he will be able to take over the property. A trust property usually requires no probate as a Will requires most of the times.
You will get more details on Living Trust from a pevious community discussion.
Thanks.
After you pay off the mortgage, you can create a revocable living trust and transfer your property into the trust.
You can make your son the beneficiary of the trust, so that after your death, he will be able to take over the property. A trust property usually requires no probate as a Will requires most of the times.
You will get more details on Living Trust from a pevious community discussion.
Thanks.