My parents wish to transfer ownership of their modest home equally to my brother and I upon their death(s).

Asked over 1 year ago - Viroqua, WI

We don't know where to begin - how do we do this? My parents want to do this without any unnecessary legal issues or additional cost. They currently have no will, but their other assets are set up as "POD" equally to my brother and I. Please advise what we must do. Thank you for your assistance.

Attorney answers (3)

  1. Maxwell Charles Livingston

    Pro

    Contributor Level 13

    2

    Lawyers agree

    Answered . I would be happy to prepare the appropriate forms for you, after discussing and reviewing the situation with you personally. You can reach me at 262-789-2741.

    Thank you.

  2. James P. Frederick

    Contributor Level 20

    3

    Lawyers agree

    Answered . We usually recommend using a lady bird deed in situations like this, but you need to have an estate planning attorney review things to make sure that meets your parents' objectives. They also need durable power of attorney forms for health and financial matters. None of these forms are particularly expensive. They should be prepared by a lawyer to make sure they are done properly.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more
  3. Crystal Chastain Baker

    Contributor Level 2

    2

    Lawyers agree

    Answered . First, I would advise your parents to get a will. A simple will is inexpensive and worth doing.
    The transfer of property can be done by will or by a deed transfer. Contact your local probate court for information on estate planning and/or a local inexpensive legal referral.

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