Posted on: 16th Mar, 2010 12:48 pm
Family member living on the property in his own house and mother's house is also on property. State of WV. Would like to protect her land from creditors and probate. How can we do this ?
Hi BHong,
You can ask the mother to sign a quit claim deed and transfer the property to the 3 children. She can reserve a life estate for herself which will help her in staying in the property until her death. After her death, the heirs will become the owner of the property and they won't have to go for a probate.
You can ask the mother to sign a quit claim deed and transfer the property to the 3 children. She can reserve a life estate for herself which will help her in staying in the property until her death. After her death, the heirs will become the owner of the property and they won't have to go for a probate.
would that be the same as a bennificary deed?
Yes, it would be the same in case of beneficiary deed.