Cruising Life and Death: The Intricate Web of Titles We Create

For numerous families, a home is often the principal asset bequeathed to future generations. Can you identify the asset that frequently ends up in probate court? It’s indeed a HOME. This common occurrence often stems from a lack of awareness regarding inheritance rules. The fundamental guideline states that if property is solely in your name, without a living beneficiary or joint owner upon your death, the probate process must occur before it can LEGALLY be transferred. Joint ownership necessitates full rights of survivorship to bypass probate. When discussing real property, “title” denotes ownership, while a deed serves as the instrument for transfer.Complications typically arise when individuals unknowingly impact future generations. For example, Hattie transferred her home’s title to herself and her son, Bobby, but their subsequent deaths without wills complicated matters. Consequently, legal heirs from both estates emerged, requiring the initiation of probate for each, thus entangling the title. This scenario emphasizes the critical need for proper estate planning and legal counsel. Attorney Jehan Crump-Gibson of Great Lakes Legal Group advocates for proactive estate management to prevent such conflicts.