Can You Transfer Ownership of a House in a Will?

Can You Transfer Ownership of a House in a Will?

One major goal of creating a will is to transfer property to individuals who survive a deceased person, typically family members or close friends. The property falls into two principal categories: real and personal. Real property consists of buildings and land, and personal property includes tangible objects such as jewelry and vehicles as well as intangible items such as cash, stocks, and bonds. Ownership of real property, for example, a house, can be transferred through a will as a bequest or gift.

Transferring Ownership of a House through a Will

Title to a house transferred in a will can only pass to a recipient after the probate process has been finalized. The will’s executor, the person assigned to carry out the terms of the will, initiates the process by filing the will with the local county probate court. The probate judge then authorizes the executor to follow the instructions spelled out in the will. The executor first creates a record of all the estate’s liabilities and assets, then takes care of the estate’s debts, and finally allocates property to the beneficiaries consistent with the terms of the will. If the house has a mortgage, the beneficiary acquires the property along with the mortgage.

Transferring the Title to the Beneficiary’s Name

After the house is obtained, the beneficiary is required to have the title transferred to his or her name. The transfer process varies from state to state, but most often involves applying for a transfer of title with the office of the local county recorder, which usually necessitates paying fees, supplying a certified copy of the previous owner’s death certificate, and sometimes the title to the house.

Since probate can be extremely time-consuming and complex, you may choose to transfer your house in a way that avoids having to go to probate court. Also, depending on the number of your assets, your estate could be required to pay estate taxes.

Bell & Shah Law Is Here to Help

No matter which method you choose to transfer ownership of your house, it’s important to consider the various conditions and possible complications before beginning the estate planning process. The knowledgeable attorneys at Bell & Shah Law, LLC can assist you in creating a plan that will best suit your needs and those of your family. Call us today for a free consultation.

Ways of Stopping Future Generations from Changing Your Will if Your Health Declines

Ways of Stopping Future Generations from Changing Your Will if Your Health Declines

Having a will and testament is important, especially as we get older. However, if in the future your health declines, someone in the family may decide they want to change your will or contest it upon your death to get more from your estate. This is not something that often works, but, if you take steps now, you can prevent issues in the future.

Steps to Take to Protect Your Will While You Are Alive

Whether you are setting up a will now to make sure specific money is set aside for your grandchildren or to leave someone specifically out of your will, you need your will to be well-written. You want someone that fully understands the extent of the law to write up your will. This makes it stronger in the face of contesting. You also want to make sure that you prove you are fully competent when signing your will. Having a video taken of this process can go a long way towards proving your will is precisely how you want it.

Steps to Take to Protect Your Will Upon Your Death

To avoid someone contesting your will later on, you want to put in a clause that is called the terrorism clause, or the no-contest clause. This works if your estate is considerable, because then you can put in your will if anyone were to try and contest the will, they would lose out on anything set out for them specifically. If you were to take the time to prove your competence ahead of time and show that you signed your will without any outside influence, then adding in the no-contest clause is often enough to protect your estate.

Want Help Creating a Strong Will? Reach Out to Bell & Shaw Law Today

If you want to ensure that your will can withstand your future, then reach out to us here at Bell & Shaw Law today. We will help ensure that your will is safe and is not likely to ever withstand someone’s possible attempt to change or contest it later on. Contact us today and let us help.

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