My mother has a living will.
A living will is a form advanced directive indicating what a person wishes to happen regarding health care if that person can no longer make those decisions.
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silvergrey28?said...Is the house included in the living will? Will her house go into probate when she dies?
Since we don't know what sort of document you are referring to - a will or a trust - it isn't possible to answer.? And we can't know how the house is titled.silvergrey28?said...
Or should a child be listed on the deed to bypass probate with her house.
There pros and cons to doing that.? On the pro side, if the titling includes a right of survivorship, then the asset transfers outside of probate.? Among other cons are:
1) Making someone a co-owner is not some sort of game.? The person really does become an owner and has all the rights of an owner.? One does not later get to kick that person out of "ownership club."
2) If the new co-owner runs into financial difficulties, that person's ownership share could be subject to attack by any creditors.
3) There is a downside regarding tax cost basis if the property is sold after the original owner dies.
Source: http://boards.answers.findlaw.com/n/pfx/forum.aspx?msg=88925.1&nav=messages&webtag=fl-wills_trusts
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