QUESTION
Can I give my house to my daughter only when I die?
Asked on Dec 15th, 2013 on Estate Planning - Michigan
24 ANSWERS
Edwin K. Niles
Of course, but there may be tax reasons why she should inherit. Talk to a lawyer.
Answered on Dec 20th, 2013 at 5:27 PM
Yes there is a way for you do will your house to your daughter when you die and not before.
Answered on Dec 20th, 2013 at 5:27 PM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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Yes. In Missouri, you can do this by beneficiary deed which would avoid having the house go through probate.
Answered on Dec 18th, 2013 at 8:38 AM
Probate Attorney serving St. Louis, MO
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Edward L. Armstrong, P.C.
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You may give your home to your daughter only when you die. The easiest way to accomplish this would be to have a beneficiary deed prepared deeding the property to your daughter at the time of your death. Beneficiary deeds do not take effect until the grantor on the deed (this would be you) dies. In the meantime, it leaves you free to do anything you want with the property including selling it or pledge in a security for a loan. You should have a real estate lawyer prepare the deed for you and once you have signed it you need to recorded in the recorder of deeds office for the county in which the property is located.
Answered on Dec 18th, 2013 at 8:38 AM
There are several ways. The easiest is to make a Will stating who your potential heirs are and why you are leaving the house to your daughter only. That will give the house a stepped up basis [taxed at the value of the house at the time of your death for future capital gains tax] but the Will has to go through probate to transfer title. You could set up a Trust that gives her the house upon your death [no steeped up basis but avoids probate as title already passed to the trust and the to her]. You could transfer the property to her and retain a life estate. In general, the first process is normally better, but you should speak to a probate attorney to find out what is best for you. First read some lay books on estates, such as those from Nolo Press [probably available at you local library] so you know some about the law and the advantages of each process. Usually in is best not to give up ownership of your property until you are dead.
Answered on Dec 18th, 2013 at 8:38 AM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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You can give your house to your daughter at any time, but be sure and file a gift tax return. Also note that she will miss out on getting a step;-up in basis for income tax purposes if you give it to her now instead of at death.
Answered on Dec 17th, 2013 at 5:15 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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In my opinion, you should keep the title to your house in only your name, and make a will giving the house to your daughter. That is safest. The best thing to do is to have a lawyer review your whole estate plan, and make your decisions concerning how to proceed.
Answered on Dec 17th, 2013 at 5:15 PM
Corporate/Business Attorney serving Beachwood, OH
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Christine Sabio Socrates Attorney at Law
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Yes. There are several vehicles in which this can be done. The most common are by will, trust, or transfer on death affidavit.
Answered on Dec 17th, 2013 at 5:15 PM
Personal Injury Attorney serving Marksville, LA
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The Bryan Law Firm L.L.C.
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Yes, by drafting a will, you can specify who gets what when you die. In Louisiana, your children are forced heirs if they are under 24 years of age or are mentally or physically infirm. If they are forced heirs, you may have to leave them a portion of your estate whether you want to or not. Otherwise, you are free to leave your property to whomever you choose.
Answered on Dec 17th, 2013 at 5:14 PM
2 Awards
Yes. See an estate planning attorney and do a living trust.
Answered on Dec 17th, 2013 at 5:14 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Yes by will or trust, or by putting her on the deed as a joint tenant.
Answered on Dec 17th, 2013 at 5:14 PM
In California, yes. There are several ways to do it. If you put her name on the deed as a joint tenant, she will get the house when you die without the necessity for probate. She will have to file an Affidavit of death of Joint Tenant for and have a new deed recorded. Fairly simple and straight forward procedure.
Answered on Dec 17th, 2013 at 5:14 PM
Yes. You should probably create a revocable trust naming her as beneficiary. These are easy to set up for an experienced attorney.
Answered on Dec 17th, 2013 at 5:14 PM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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Yes. You do it in a will.
Answered on Dec 17th, 2013 at 5:13 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Yes you can. I suggest a will or a trust with a pocket deed. You can also do a ladybird deed or some other type of thing so you can retain control until you pass and it will pass to your daughter without probate. Contact an attorney to do it right.
Answered on Dec 17th, 2013 at 5:13 PM
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No, you have plenty of options but they have consequences. You should speak with an estate planning attorney who has experience with elder law. There may be unintended consequences. Seek out legal help about your goals and objectives. Good luck.
Answered on Dec 17th, 2013 at 5:13 PM
Commercial Attorney serving Chicago, IL
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Ashcraft & Ashcraft, Ltd.
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A new Illinois statute allows for a Transfer on Death deed. This is a specialized deed with different elements and requirements than a normal deed. Failure to follow the special requirements will make the deed ineffective. Similarly, special requirements are needed to revoke the deed. A trust and a will can also be used to transfer realty on death.
Answered on Dec 17th, 2013 at 5:13 PM
You can do what you want with your house, meaning you can give it to any one person to the exclusion of any other person. You can also set things up now to accomplish it. For example, you could immediately deed the house to you and your daughter as joint tenants with rights of survivorship. When one of you passes away, the house would automatically go to the surviving person.
Answered on Dec 17th, 2013 at 5:13 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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There are ways to accomplish that. See an attorney to make it happen.
Answered on Dec 17th, 2013 at 5:12 PM
You can give your house to anyone you choose during your lifetime or in your will. Check out the tax consequences or either action before you make a decision.
Answered on Dec 17th, 2013 at 5:12 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Yes. The best way to do this under Michigan law is by using a lady bird deed. These documents should be drawn up by an attorney. They are relatively inexpensive.
Answered on Dec 17th, 2013 at 5:12 PM
Yes you can if you are not married.
Answered on Dec 17th, 2013 at 5:12 PM
Probate Attorney serving New Orleans, LA
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James G. Maguire
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You can donate the house to your daughter at any time. Two possible problems: 1. You would probably lose your homestead exemption. 2. If your daughter gets into financial trouble (bankruptcy, divorce), the house could be lost.
Answered on Dec 17th, 2013 at 5:11 PM
Yes, consider a trust or a joint deed with right of survivorship.
Answered on Dec 17th, 2013 at 5:11 PM