Which is best? Conveying your home to your child or children now? Or letting them inherit it after you pass on? Conveying real estate during your lifetime can cost more than letting it be inherited after death. Then again, inheritances go through probate, which is time-consuming and subject to challenges. Here are more details on the ways the options play out. Choose the one that works best for you and your family.Continue reading “Should You Transfer Your Home to Your Children Now, or Leave It in Your Will?”
Real estate can be a fantastic investment. It is often considered one of the most stable money moves that you can make if you are looking for a way to see real return on a business venture, sometimes with little personal involvement.
However, when you hold several properties, you need to take steps to protect that investment. One of the ways that you should do that is by developing an estate plan that works for your unique situation. It is not only a good idea for you personally, but it will also be very helpful for your heirs.Continue reading “Estate Planning for Your Real Estate Holdings”
Michigan Ladybird Deed
(Warranty Deed with Enhanced Life Estate and Power of Appointment)
When correctly executed and recorded, this deed provides the structure for a non-testamentary transfer of real property. Leaving the real property out of a will allows the transfer to occur without the need for probate.Continue reading “Estate Planning in Michigan Using a Ladybird Deed”