Legal Question in Wills and Trusts in Michigan
how to protect my estate
my husband died, i am only one on mort. now, how do you protect that from being a part of 'estate' without adding daughter to mort.
Asked on 6/27/07, 8:12 am
1 Answer from Attorneys
Audra Arndt
Audra A. Arndt & Associates, PLLC
Re: how to protect my estate
You can put the property in your daugther's name by conveying it to her and yourself as joint tenants with rights of survivorship. However, if she is a minor, and you add her to the deed, and then try to refinance, you will have to take her off the deed by opening an estate and getting permission to remove the assets out of her name/estate (I just had this issue with another client).
You can also have a lawyer draft some estate planning documents for you and have the house left to your daughter specifically in a trust so it does not go through probate.
Answered on 6/27/07, 9:13 pm