Living trust

[thomasdan]

Hello everyone<

Just looking for opinions and different options.

My mother recently paid off her house. She's 64 and going to retired soon. Base on talking to her. She plans to leave the house to my sister and I. Would the best thing to do is open up a living trust so if anything happens to her it doesn't go to probate? Want to make sure the house is taken away from our family.

What other options do you guys recommend?

[cypher1]

I'm no expert, but wouldn't a will be more practical if the priority is focusing if or when the individual may pass away?

[thomasdan]

I will do more research on wills and living trust. THank you

[Like2Plan]

Depending on where you live, she may be able to change the deed to a lady bird deed: https://www.thebalance.com/enhanced-...e-deed-3505518

Some states allow for transfer on death deeds so the property does not have to go through probate.
Here is a link that explains further: https://www.deeds.com/forms/virginia...on-death-deed/

The best course of action would be for your Mom to consult with an attorney. You want all you tee's crossed and i's dotted on this sort of thing.

[thomasdan]

I'm in Ca.

Thank you, I'll take a look at the link you provided.

[Like2Plan]

Here is the sample for California (but it comes with the same precaution--check with a real estate attorney to make sure it is is done correctly and recorded properly)

https://www.deedclaim.com/california...on-death-deed/

Also, another interesting factor in CA is prop 13. (Not sure how that works, but I thought it could be passed down with inheritances)

[Thrif-t]

I'm in Ohio and we have a TOD on our deed to go to our kids so the house doesn't have to go through probate.