Avoid Probate on a Home

Physician's Money Digest, March31 2005, Volume 12, Issue 6

Tip:

If you want to make sure your heirsget your home without going through thethorny and time-consuming probateprocess, look into a living trust. Trusts arerelatively easy to set up, but you probablyshould work with a lawyer, especially ifyour estate is large or complex. The costis also reasonable, although in addition towhat you pay the lawyer, you'll incur filingfees to transfer ownership of thehome to the trust. The trust beneficiarywill then get the property without goingthrough probate after you die. Checkwith your mortgage company to see if ithas any special requirements before youtransfer the deed.