Should I add my child's name to my deed to avoid probate?
Should I add my child's name to my deed to avoid probate? How do I avoid probate on my home or property? Watch as Attorney Tom Olsen explains!
Attorney Tom Olsen: If your home was owned by you and your husband, both of your names were on the deed as husband and wife and your husband passes away, that home automatically belongs to you, no headaches, no hassles, and no probate. Rita, the only thing that you need to do is record his death certificate in the public records of Orange County and that the old deed, together with his death certificate, will tell the world that you are now the sole owner.
Now Rita, what you’re really trying to get to is you want to avoid probate and you asking me, “Tom, should I add my son’s name to the deed as a way to avoid probate?” The answer is absolutely, positively no, Rita, do not do that. Why? Because if your son gets sued, works up a million dollars in medical bills, files bankruptcy, doesn’t pay his income taxes or gets divorced, his creditors are coming after your home. Now Rita, if you want to avoid probate, we have a much better tool for avoiding probate on your home called an enhanced life estate deed. It’s a deed that we would prepare, it would state that as long as you’re alive, it is your home to do with it as you please, no restrictions whatsoever. But then when you pass away, the home will automatically go to your kids, no headaches, no hassles, no probate.
Chrissy: You can call or text me Rita at 407-808-8398 and I can talk to you more about it and/or I can get you a booklet.
Attorney Tom Olsen: Yes, so and again, enhanced life estate deed is a great tool for avoiding probate on your home or your vacation home, your beach condo. All great tools we love to assist you with it. If you want more information about it, we talk about it on our Easy Ways to Avoid Probate workshops or we can send you a booklet on it. Simple. Just call or text Chrissy anytime, 407-808-8398, to get the information on that.
Chrissy, we are winding down today’s show and it’s been really wonderful, we had lot of great calls. I do want to remind people that Monday through Friday, 9:00 to 5:00; all the lawyers are at my office including Chrissy, we’re always happy to give free legal advice. All you have to do is call our office Monday through Friday, 407-423-5561. As well, check out our website, Lawtube.com, like Youtube but Lawtube.com. We video tape this radio show, we chop them up into one legal question, one legal answer, you’ll find them at Lawtube.com.
You can always email us your legal questions on Lawtube as well. Everybody, thanks so much for your great calls and questions. We do so much appreciate it. If I may have suggestion for you, go outdoors and take pleasure in the beauty of nature, and as always, enjoy your friends and family. My name is Tom Olsen. The name of the show is Olsen on Law. You’re listening to News 96.5.