Q: Can we have our daughter legally inherit our home w/O going to an actual attorney… like get a legal form witnessed

A: Let me ask this question another way: Can I have my appendix removed without going to an actual surgeon ... like get a knife and have my buddy do it for me?

Short answer: you CAN do this.

Longer answer: Do you really want to risk it? The cost of a professional estate plan (which will include more than just dealing with one piece of property) is far less than you might fear, and getting things done right matters. I have seen WAY more times when someone tried to avoid legal fees and ended up spending much MORE in trouble after the fact because they didn't do something properly.

Find a local estate planning / real estate lawyer (use the 'find a lawyer' tab above if you don't already have one) and you'll get far better results!

-- 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

A: Why would you want to take chances and not get proper legal advice with a major asset like you home and something as important as taking care of your daughter? There isn't one simple answer to your question. You need to talk to an attorney to understand the various issues that can come up and defeat your plan and you also need to learn that houses can transfer without probate.

Whether or not your daughter ends up with your house could depend on many different things, essentially what your financial situation is when you die. As you age you will have to deal with the problems of aging such has a deteriorating medical condition that may necessitate living in a care facility. If that happens, most people end up selling their homes to pay for that care as Medicare won't cover it. Some people manage to stay independent but end up taking out a reverse mortgage to be able to afford to live in their houses. Some people ask the county to defer their property taxes so the unpaid taxes become a lien on the house payable at death.

You really need to invest the time and money to sit down with an attorney and figure out the least expensive, but best solution for your estate plan. Don't be afraid of probate. It is good to avoid it but not the end of the world if you can't. Don't forget that your estate plan should also include considering what happens before you die, in a situation where you are alive but incapacitated.

At a minimum you want to:

1. Pay for a legal consultation to discuss your estate and get the best and most economical plan,

2. Have either a Will or Revocable Living Trust (RVLT) prepared. A RVLT has a lot of advantages over a will, including avoiding probate, so you will want to consider whether the extra cost for a RVLT is justified in your situation.

3. Get a Durable Power of Attorney (DPOA),

4. Discuss and execute an Advanced Directive. (This is a medical form that discusses who has the power to make medical decisions for you when you can't). Many people fill this out when they are handed it before a hospital stay and they just guess how to fill it out without proper legal advice. The form looks simple but it really isn't and it helps to talk to an attorney and get some insight as to the best way to fill out the form.

5. You can discuss using a transfer on death deed but I don't generally recommend these as I think a RVLT is a better option because it allows dealing with more than your real estate and it can help when you are incapacitated,

6. Go over all your financial accounts and life insurance policies with your attorney and make sure the beneficiary designations are correctly filled out. This is an extremely important step that most people miss when they don't get good legal advice.

7. Make sure that your estate plan is realistic and takes into consideration the realities of aging. Many people want to give their children something when they die and get some emotional comfort with having an estate plan that they think works, but the reality may be that there won't be anything left for your children. This may not be avoidable but I think it is important to realize the limitations of any estate plan and explain this to your adult children so they have realistic expectations.

8. Discuss with your Attorney whether your estate is likely to be subject to estate tax. Few people have to concern themselves with Federal Estate tax, $5.5 million, these days. However, Oregon Estate Taxes start on estates valued at $1 million. With substantial inflation in real estate values in the Portland area more people are leaving taxable estates these days and the taxes have to be paid so this can mean having to sell inherited real estate unless there is another source of funds to pay the taxes.