Legal Question in Wills and Trusts in Virginia
My father-in-law and mother-in-law are both terminally ill. They want to change their home's title to one of my sister-in-laws (I think this is called a Quit Claim Deed?) .Nothing is owed on the home. The purpose of doing this is to attempt to keep the home from being taken in a civil suit. They are worried my father-in-law will drive when he isn't supposed to and have an accident or they are affraid that medical debts will eat up the remaining of the estate and are trying to protect what is left (mainly the house) for the three daughters. Are they going about this the right way or should they go through an attorney and have a living trust completed? The intent is when they do pass away, the girls sell the home and split the proceeds. I am starting to work on a will right now. Thank you.
1 Answer from Attorneys
No, your parents are not going about this in the right way(in my opinion).
Far better to discuss it with a local attorney who is appropriately
experienced and knowledgeable in these matters(wills, trusts, estates, i.e., probate matters in general), and who should be able to advise them on their situation in particular, accordingly.
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