Legal Question in Real Estate Law in Michigan
Children to inherit property
I am a recent widower. My wife and I own our home with no encumbrances per the Title Insurance furnished by the bank when the mortgage was paid off. What should I do to make sure my four children inherit the home and contents in equal shares? Do I need to prepare a Quitclaim deed?
1 Answer from Attorneys
Re: Children to inherit property
A quit claim deed could work if properly drafted with respect to the real property only. However, it will not divide the personal property between your children. If you or your wife die without a will, a probate estate will need to be opened if you own property not jointly owned or that passes directly to the surviving spouse, and the property will be distributed via the probate process and laws. You really should consult with an estate planning attorney who can review all of your assets and help you pass them along as you desire when you die. You may also want a living will. These are extremely important issues that need to be properly addressed as we advance in age. You can contact me for assistance.
Good luck.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
