A friend was listening to a radio show where they were talking about something that you can do/fill out to ensure that when you pass away whoever you say is to get everything will get it right away without a wait period. I have a house and if something happens to me I want my child to get it right away. What do I need to do to ensure that this happens?
Ethics / Professional Responsibility Lawyer
There are a couple of ways to do it. You can convey the house to a trust or change the ownership of the house to joint tenancy with right or survivorship or convey to your child while retaining a life estate for yourself. Each option has its advantages and disadvantages. I can't advise what will be best for you based on an Avvo post. You need the advice of an estate planning attorney.
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Lawsuit / Dispute Attorney
Joint tenancy with right of survivorship makes your children co owners in your property. You could be subject to a gift tax depending on the value of the house. You should probably consult with an estate planner before doing anything.
Real Estate Attorney
If you die intestate (without a will) under New York State law any real property you may own, such as a home, immediately vests in your heirs at law. If you are survived only by your children, upon your death they would own the home as tenants-in-common, each owning an equal share. If you wish a different result,you may need to convey your home to a "living trust." or convey the home to your child or children, retaining a life state. An attorney can advise you of the best way to proceed.
The answer to this question should not be construed as legal advice and does not create a lawyer-client relationship. You should consult a lawyer before taking any action regarding your matter.
"Other than a will?" The will would have to be probated causing a long wait period and considerable expense. Talk to a local estate planning lawyer. A consultation will be free or won't cost much and if the lawyer wants to sell you on an estate plan you feel is too expensive, talk to a different lawyer. Estate planning can save your family a lot grief is something happens to you and prices for legal services in this area vary tremendously. I don't have a license to practice law in New York but in Nevada where I do practice my law firm of Reed & Mansfield competes on prices. Other probate and estate planning lawyers have no interest in competing on price. So shop around.
Often form you can buy from Legal Zoom or a paralegal turn out to be a bad value because often lay people make mistakes that aren't apparent until they die and then their heirs have an unnecessary mess on their hands.