Maria wants to avoid probate on her home

Attorney Tom Olsen: Maria, you're on WDBO, go ahead. Hello, Maria, are you with us? Hey, Maria, are you -- ?

Maria: I'm with you, I'm so sorry.

Tom: Go ahead, you're on the air.

Maria: Yes. My question was-- If I have a property and my son lives with me, of course, he's of age, if I should pass away, even if I have a living loan, would he be able to have that property put in his name, or do I have to do a probate beforehand? What would you recommend?

Tom: Maria, first of all, a living will is a pull the plug, don't keep you alive by machines document. Maria, are you saying that you have a living trust?

Maria: I do not. I have a living will, but I'm going to make a will as well.

Tom: Okay, so, Holley, you've got full expertise to handle this question for Maria. Go ahead and answer it for her, if you would, please.

Attorney Holley Knapik: Absolutely. Thank you, Maria, for calling. What you have currently is what Attorney Olson mentioned, is the pull the plug document. A living will is about your end-of-life choice. What we can talk about more directly is your property, currently. Maria, let me ask you this-- Is the home in your name only?

Maria: It's in my name and my husband, but we are separated. He did a quick claim deed on it.

Holley: You've done a quick claim deed where the husband's given his interest back to you?

Maria: Correct.

Holley: Okay, so it sounds as though the home is, then, in your name only. A tool that you can use to avoid probate, because that's what we're about here, at Olson Law Group, the avoidance of probate. Probate happens when you pass away owning an asset in your name only, but fail to have a beneficiary for that asset. A home is an example. If you did pass away at this point, your son would have to go through probate in order to get his interest distributed to him in the home.

We want to avoid that, because it's expensive, it takes a long time. The Lady Bird deed, also known as an enhanced life estate deed, is a tool we can use to help you maintain your complete and total control over your property, but you would literally be naming your son as the beneficiary of that property. Upon your passing, it would automatically transfer to him, with the only requirement being that he records your death certificate in the county records where the property is located.

Maria: I understand. Okay. [crosstalk]

Tom: Maria, you're on the right track, Maria. What you want to do is, you want to avoid probate. If you don't take these steps we're speaking of and you pass away, it will require a probate process to get the home out of your name and into your adult son's name. Probate's expensive and takes a long time. Maria, if you'll work with the Olson Law Group, we'll take all steps necessary to make sure that you avoid probate on your home.

We'd be using a Lady Bird deed, also known as an enhanced life estate deed, for that purpose, Maria. We have free booklets on that, how to avoid probate on your home. You can call the Olson Law Group or go through our website, olsonlawgroup.com. We'll mail those booklets to you. As well, all the attorneys in our office, including Holley, offers a free initial consultation to talk to you about these things, Maria. You can do that in person or over the phone, whatever you prefer.

Maria: That sounds wonderful. Thank you so much.

Tom: Thank you, Maria.

Maria: I will definitely follow through with it.

Tom: All right.

[00:03:31] [END OF AUDIO]