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Avoiding Probate Isn’t Always Best Approach

Posted by Nina Whitehurst | Feb 21, 2018 | 0 Comments

Small house

Sometimes it is best if your home does go through probate.

Putting  your child's name on the deed of a home may avoid probate.  However, it is almost always a very bad idea because of the risks involved, according to My Prime Time News in "Deeds and Probate Avoidance."

The problem is that by putting a child's name on the deed, the home becomes an asset for the child. Any creditors the child has can put a lien on the loan.

It also has the potential for adverse capital gains tax consequences for the child, should the home be sold after you pass away. This is an example of the method of probate avoidance not being worth the potential costs.

An estate planning attorney can advice you on creating an estate plan that can avoid probate but also avoid the risks.

Reference: My Prime Time News (Jan. 29, 2018) "Deeds and Probate Avoidance."

About the Author

Nina Whitehurst

Attorney at Law Nina has been practicing law for over 30 years in the areas of estate planning, real estate and business law She is currently licensed in Alaska, Arizona, California, Colorado, Oregon and Tennessee. Her Martindale-Hubbell attorney rating is the highest achievable: 5 stars in peer...

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