Transferring Real Property outside of Probate

Many people want to know, How do I leave my legacy to my children without their having to go through the hassle of Probate. Sometimes the fear of probate is unwarranted. Many times the fear of costs for probate prevent people taking the simple step of calling an attorney to inquire. Remember, if you never ask a question, the answer always remains, "NO".

Probate costs are monitored byt he court, with Judges signing off on most fee applications. Many times an attorney will agree to a lesser rate if he or she has represented you or the decedent in the past.

Sometimes however, an attorney may be able to suggest ways to avoid probate altogether. Instruments such as "Life Estate Deeds" and Lady Bird Deeds may be very useful in allowing a senior to maintain control of their property right up until death, then avoid probate by having it transferred through the prior filed deed. Many times you just have to know what questions to ask.

Give Gifts with Warm Hands

Heirs only arrive after death. It is much better to give gifts while the recipient can say thank you. Who wants to wait until someone dies in order to inheirit the land, jewelry, and other possessions of life. In my office I meet people very often who want to write a Will. On many occasions it seems people want to allow some decisions about the division of property to be made by the heirs "After I am gone." "Ill let my children figure that out," they will say.

I can honestly say I see nothing worse than putting children to work deciding who gets what after you are gone. Even if they get along great and are perfectly attuned to your wishes, to leave that burden for them is a terrible curse and can be dangerous to your estate. One may not want to take anything, but have regrets later. There may be one item of furniture they both want causing years of mental anguish. Probate costs are minimal with a well-drafted will that leaves nothing to be worried about later. When the Personal Representative or Executor is forced to make judgment decisions, probate costs skyrocket and may take a much greater portion of the estate than would otherwise be required.

Give gifts while you are alive, with "Warm Hands", so that when your hands are cold in death, you may be eulagized as a generous person who thought of others. Don't set up problems for your children. Relieve them of the burdens of probate by making those decisions in your will or prior to your death.