[lakosence]

I am researching this information for my grandmother. Just recently my grandfater passed away and we are trying to take care of all the loose ends. We need to know what needs to be done with the deed on the house. Both of there names are listed on the deed. Do we need to have his name removed from the deed? What paperwork do we need to have processed. Please help!! :confused:

Thanks

[LisaB4657]

My condolences on your loss.

How are their names listed? Are they listed as John Doe and Jane Doe, as joint tenants with right of survivorship (JTWROS)? Or John Doe and Jane Doe, as husband and wife? Or John Doe and Jane Doe, as tenants in common?

If they are listed as joint tenants or as husband and wife then you shouldn't have to do anything. When their names are listed that way it means that when one owner passes away the entire ownership of the property passes to the surviving owner. When your grandmother is ready to sell the property all she has to do is provide the buyers with a copy of your grandfather's death certificate.

If their names are listed as tenants in common then your grandfather's share of the property becomes part of his estate and then gets transferred according to his will. If he had no will then his share of the property goes to his heirs according to the laws of intestate succession in your state. In this situation you would need to probate his estate to transfer the property.

Most likely your grandparents owned the property as joint tenants. You have to carefully read the deed to make sure. If you're not completely sure then you can bring it to an attorney or title company and have them look at it.

[lakosence]

If my grandmother wants her house to be transferred to my Aunt if/when she passes will a living will be suficient? Please advise

Thanks :confused:

[twinkiedooter]

You are confused here. A living will has nothing to do with leaving stuff to people, it has to do with what happens to a person when they are in the hospital and are ill or near death.

Grandma needs to have a Last Will and Testament drawn up in order to leave the home to the Aunt. Or she can change the deed to a joint tenant with survivorship rights to avoid probate of a will if that is her only asset. When a will is probated through the court an attorney is paid a certain percentage of the estate prior to the estate's finalization through the probate court. It is not free and can run into a sizeable amount very quickly in mandatory attorney's fees. A lot of people don't realize this and are shocked that they have to spend a lot of money (they probably don't have) just to have a will go through the probate courts.

[lakosence]

Help!! I am not sure what kind of will my grandmother needs to have drawn up to leave her house to my Aunt if/when she dies. Recently my grandfather passed and one of the deeds on the house was written up as husband and wife and the other was written up as husband and wife as joint tenants. If she does not want to change the deed then what kind of will does she have to have written?
Please help... we are so confused

Thanks
:confused:

[twinkiedooter]

She needs to have a Last Will and Testament drawn up.

[ScottGem]

There aren't really different types of wills. While there may be different formats, a last Will and Testament is a document that spells out the distribution of one's property after they die. It can be as simple as Jane gets the property located at... or it can be very complex. If the will is simple an attorney can do it for a few hundred bucks. Or you can purchase software to do it. The signing of the will should be witnessed by two people.

[Fr_Chuck]

There needs to be a will, after that you need to figure out how it is to be transferred, a trust, or by transfer of deed, and then if the child is a minor, who is going to be the guardian over the child

[lakosence]

Can someone please explain to me what a living trust does?
If someone has a living trust can they specify what there wishes are for there property?
Please explain.

Thank you :confused:

[JudyKayTee]

Can someone please explain to me what a living trust does?
If someone has a living trust can they specify what there wishes are for there property?
Please explain.

Thank you :confused:

Straight from the website: "What is a living trust?

A trust is an arrangement under which one person, called a trustee, holds legal title to property for another person, called a beneficiary. You can be the trustee of your own living trust, keeping full control over all property held in trust.

A "living trust" (also called an "inter vivos" trust) is simply a trust you create while you're alive, rather than one that is created at your death.

Different kinds of living trusts can help you avoid probate, reduce estate taxes, or set up long-term property management."

(Living Trust FAQ)

All of your posts on this subject should be combined for ease in responding.

[lakosence]

If someone leave property to someone in there last will and testament will the property go into probate and will the person that the property is willed to have to pay taxes and other fees to receive the property?
Please advise.

Thank you... I am soooooo confused

[tickle]

If there is an outstanding lien on the property or taxes in arrears, yes you will have to pay them.

[Curlyben]

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