14 August 2018 Currents
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By: Martin Zevin, P. A
Enhanced Life Estate Deed: Is It Safe?
There are several ways to avoid probate on your home when you die. If you are single, there will be probate when you die unless you choose one of the following options. If you are married and own your home together, your surviving spouse will not have probate; however, there will be probate when the
second of you passes away, unless one of these options is done.
Let us assume that you own your home jointly with your spouse and that you have two children. Both of you desire to have your two children inherit your home equally when you both pass away.
The first option would be to add the names of your two children to the Deed as joint tenants with right of survivorship. This is not a good idea. It would affect your ability to claim your full homestead exemption. In addition, you lose control of your property and can only sell it if your children both agree and sign all closing documents. If you wanted to take one of the children off the Deed, you would be
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