If I have a house that is paid for and I want to leave it to my 4 children, how can I do this so that it does not have to go through probate?
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If I have a house that is paid for and I want to leave it to my 4 children, how can I do this so that it does not have to go through probate?
Can I have a deed drawn up and put their names on it? What type of deed? What are some other ways I can leave it to them without having to write a Will?
Asked on February 4, 2013 under Estate Planning, Illinois
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
You can leave your property into a revocable trust naming the four children as beneficiaries, with you being the trustee and settlor of the trust, which allows you to amend the trust should you desire in the future; you must remember to transfer the residence into the trust, or the trust will not be funded.
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