One goal of estate planning is to ensure that your assets, including your home, pass to your chosen beneficiaries quickly and with minimal expense. In real estate, a common strategy to avoid probate (the court process of validating a will and distributing assets) is...
Life Estates A life estate deed transfers ownership of your real property to a beneficiary upon your death but allows you to retain the right to live in and use the property for the rest of your life. In most states, you also retain your homestead exemption for as...
Joint Tenants with Rights of Survivorship Real estate jointly owned by two or more parties, the share of each passing to the other owner(s) upon the death of an owner. Tenants in Common Real estate with shared ownership with each owner owning a share. Upon...
