Q: Can parent go ahead and sign her house over to her 4 kids now so that when she passess, will won't have to be probated
So when she signs house to us 4 kids now we won't have to pay for will to be probated?
A: The answer to your question is Yes. However, transferring the home now will cause income tax implications for the recipients because the house is being given as a gift and is likely more than the gift tax exclusion amount. But that will depend on the value of the house at the time of the transfer. There are other ways to transfer the home without probating a will. Some that are unique to Texas and Florida (I think its Florida). Find a lawyer near you to discuss the options currently available. Many attorneys offer free consultations. Even if it has to go through probate, Texas probate with a Will is not a difficult and expensive proposition as it is in many other states. I know "expensive" is relative, but spending a little time and money now to understand your options, and planning ahead will save you a bundle of time and expense after its to late to make changes.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
