Legal Question in Wills and Trusts in Florida
My Mom has a house and an estate that are all to be divided among myself, brothers and other relatives in her will. Only my Moms name is on the house, would it be better to have one of our names added to the house to avoid probate. Would that cause a lot trouble for the person that is added to the house as it would need to be sold to divide up the proceeds? What should we do?
3 Answers from Attorneys
You need to seek advice from a competent attorney. There are many factors that go into making this decision not the least of which are tax consequences, both income and real estate. if the house, specifically, is to be divided amongst several people, than you can have mom transfer it to a life estate and remainder interest for all the parties in their appropriate shares. This would avoid probate and maintain her homestead exemption during her lifetime. The money you would spend on a competent attorney's review of all her documentation will be well spent and will help her achieve her goals.
this is really a decision for your mother. Adding someone to the house will avoid probate, but whoever the person added is will take sole ownership of the home when she passes. It will not be subject to the probate process.
There are pros and cons to adding a person(s) to the title of the house with your mother. Attorneys Stein and Justices have provided sound responses to your question.
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