I am single and would like to transfer real property upon my incapacitation or death to my domestic partner who is permanently disabled and 65 years old. The goal is to avoid probate. There are no federal estate taxes to be concerned with. Is a POA sufficient or should there be a special needs trust made?
1 Answer from Attorneys
Because your partner is over 62 you cannot use a special needs trust. A carefully created trust (or trusts) that permits the property to be used for your benefit during your lifetime and then benefits your partner upon your incapacity or death is advised. While is may not totally avoid probate, the probate is simple and the property most likely will not be tied up during the probate process. A POA will probably not get you where where you want to be. There are a lot of facts and variables to consider in order to have the best chance of the trust fulfilling your (and your partner's) wishes.
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