Tampa, FL asked in Estate Planning for Texas

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?

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1 Lawyer Answer
Jeffery Butler
Jeffery Butler
  • Estate Planning Lawyer
  • Rockwall, TX
  • Licensed in Texas

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.

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