Posted by JML755 on April 25, 2013 at 05:12:57 from (97.78.165.185):
I've got a couple of properties (acreage and a 2nd house) besides my current home. I'm planning on typing up Warranty Deeds to add my kids (keeping my wife and I on as well) as Joint Tenants with Rights of Survivorship.
From past experience, I've found this is a good way to handle assets w/o going through probate. When an aunt passed away, I was able to sell stuff, divide it up to the heirs w/o any hassles.
Talking to some people, trusts are another way to handle this and I was wondering how you guys have handled this now or in the past. With the exemption at over $5mil, I'm not too concerned about estate taxes, but just wondering what method makes it easiest for heirs to deal with the assets.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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