Q: How can I avoid probate of my house in NC upon my death? I'ma widower. Are a Trust or life estate the only options?
All other non-real property is set via POD designations to pass equally to my two adult daughters. My goal is to avoid probate.
A: You may be able to do a life estate deed. You should consult with an estate planning attorney in your area.
A: A revocable living trust is the safest choice. There are risks and downsides to the life estate deed, including partial loss of the step up in basis at death and loss of control during your lifetime. You should discuss your option with an experienced estate planning attorney in your area.
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