Transferring a house by deed may work. There are different options in different states. In California, where I practice, that's not the best way to do the transfer. It's always best to have a will for many reasons. Among other things a will is the fullest showing of a decedent's intention. Also, by transferring by will there will be a full step up in basis for capital gains tax purposes. There are likely other reasons as well but that's a good start. Talk to an estate planning attorney, in your area, as it's very easy to make mistakes which cause your plan to not be followed or create problems after death. Good luck.
Answered on Apr 30th, 2012 at 1:25 PM