Legal Question in Wills and Trusts in Michigan

Re: Leaving property

The best way to avoid probate is to place your property into a trust. That said, probate is not necessarily the 'boogieman' as characterized by some estate planning attorneys and non-lawyer door-to-door salesmen of trust kits . Trusts have their own procedures that can be somewhat time consuming and arduous. Additionally, their up front expense may in some cases trump the expense of probate. Nevertheless, if you are still convinced that probate is to be feared, then the trust is the right way to go.

Re: Leaving property

One way to pass on the property would be to deed it to them as joint tenants. Depending on your circumstances you could do a quit claim deed which makes them joint tenants and giving you a life estate in the property. If the deed is in their names then the property does not have to be probated. There are other options available to you as well. You should discuss this matter with an attorney you trust. Good luck.

Re: Leaving property

You can deed each parcel to yourself for life, and remainder to the child (a life estate). There are advantages and disadvantages to doing estate planning this way. Further, if the property is not subdivided already, you will have to subdivide the property if you want the children to each have a unique piece of property. Otherwise, you can deed to all of them as joint tenants the entire parcel. For more info, please contact my office at (248)851-3171.