Q: If I have a will leaving everything to my wife and then our son will he automatically inherit all of our real property?
My wife and I own the home we live in and 4 rental properties. All properties are in NC except for a commercial property we own and lease in Philadelphia.
A:
Probably yes, but there may well be better ways to accomplish this that will be less expensive to your son. I'd urge you to consult with a local estate planning attorney to review ALL your assets and your desires and determine if 'ladybird deeds' some sort of Family LLC or a trust might not be a better way to go. Each state is different in how things are treated, and you may well need to also consult with an attorney in PA to insure the property there is managed appropriately, but WITHOUT PROFESSIONAL ASSISTANCE you could be stepping into a minefield!
Professional legal help will save you many times the cost in headaches and often actual dollar costs too!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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