Posted on: 31st Oct, 2009 08:40 pm
My mother is working on her Will and she wanted to know if putting her house in trust for her children would be better than putting us on the Deed.
Hi Ricky,
If the property is transferred through a will, then the heirs will have to probate the will after the grantors death and get the property transferred in their name. The probate process can cost the grantees quite a large amount.
However, a revocable living trust can be a good alternative to a will. It will help the heirs to avoid probate. Also, the grantor will be able to keep control of his/her assets while he/she is living.
Your mother will have to contact an attorney and discuss her situation with him. He would let her know which one would be the best option for her.
Thanks
If the property is transferred through a will, then the heirs will have to probate the will after the grantors death and get the property transferred in their name. The probate process can cost the grantees quite a large amount.
However, a revocable living trust can be a good alternative to a will. It will help the heirs to avoid probate. Also, the grantor will be able to keep control of his/her assets while he/she is living.
Your mother will have to contact an attorney and discuss her situation with him. He would let her know which one would be the best option for her.
Thanks