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    debirose13's Avatar
    debirose13 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 12, 2008, 09:33 AM
    Best means for my son to inherit home
    What is the best and SIMPLIEST way for me to have documention that my property with go to my son upon my death. I have no other children and no one to contest anything. At this point there is a small mortgage on the property. I would like to do this without spending a fortune on an attorney.
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
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    #2

    Dec 12, 2008, 01:27 PM

    Since there is no one to contest it I would imagine it would go to your son regardless of what you do. There might be delays though. My best and uneducated advice would be to draw up a simple will stating your desires, have it notarized and put somewhere safe.
    RealEstateMandy's Avatar
    RealEstateMandy Posts: 6, Reputation: 4
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    #3

    Dec 13, 2008, 04:44 PM
    As you know everything must be in writing. You MUST get an attorney make a will that states your son inherites all of your worldly belongings. It is imparitive that you have it in writing.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    Dec 13, 2008, 08:24 PM

    Several ways, will for time of death, add his name to deed now as owner in common, in the end it has to be in writing.
    brandemour's Avatar
    brandemour Posts: 3, Reputation: 1
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    #5

    Dec 15, 2008, 11:03 AM

    My father did a Quit Deed which was very simple putting me on the house in case both of them were killed in an accident, that I would inherit the house in line of succession. Since I just went through this - consider your age - next consider the trust of your son. As you are approaching a certain age - you are going to need to get assets out of your name to qualify for Medicaid. The time limit is 5 years - so I suggest if you trust your son and financially you are going to need to be taken care of my the government - PUT HIS NAME ONLY ON IT NOW. You can be a renter, etc. But I just had this with my mother.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #6

    Dec 16, 2008, 06:29 AM

    If you put his name on it now, you will relieve him of having to spend possibly thousands of dollars having a Will probated in Probate Court. This can be a very costly and time consuming process if you are only leaving him one asset - your house. Wills are OK and all, but can he really afford to pay a probate attorney when the time comes? Add him to the deed as tenants in common with survivorship rights. That would be the safest and cheapest way.

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