If you want someone to inherit a property when you pass away, who do you go through to accomplish this? I’ve heard many different answers, so I’m including my state if this makes a difference. Do you need a trust? Living will? Can you write something and just get it notarized? Should you go through a lawyer or real estate attorney? Thank you!
The short answer is to put it in your will. If you have few assets and it’s not complicated, a simple online will should suffice. For example, if you have no spouse and one adult child, it’s pretty straightforward. If there’s someone who might challenge it, it’s better to consult a lawyer. You need an estate lawyer, not a real estate lawyer.
I don’t have assets aside from a house, and I’m already the sole beneficiary on the life insurance. Since I’m a singleton, we’ve narrowed it down to a Trust or Lady Bird Deed to avoid probate.
Since you’re in Michigan and an only child, I’d recommend the Lady Bird Deed. It’s the closest you can get to a Transfer on Death option.
Thank you!!