Thursday, January 21, 2010

What is most convinient method of transferring property/land to married daughters ?

Have an attorney to change the title interest to ';A Living Trust';, with your daughter's names on title.





That gives you the following benefits:





1. The best: It skips probate when you die.


2. Inherited property is not considered marital property in the vast majority of the states...however, if they sell the home, the proceeds are. As long as they keep the home if your daughters divorce, their husband's can't touch it.


3. It gives YOU the SOLE authority to dissolve the trust at any time if your family relations break down. (which we hope will never happen). Your daughters have no say in the trust until your death.





To do it is simple...just get an attorney, it's a single paper that is filled out and filed...shouldn't cost you more than $100.
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