With no New Hampshire estate plan in place, your family could be exposed to serious issues with housing. Depending on how the home is owned and deeded, it might become a thorny part of your NH probate.
Many people cannot afford to make estate planning mistakes that would jeopardize their ability to let their loved ones move on during this very difficult time. This is where the support and experience of a knowledgeable estate planning lawyer can be instrumental in protecting those interests. Naming someone on a deed is one possible way to transfer property to them but smart estate planning can make this process easier and minimize some of the problems.
Part of this will also depend on whether or not they have put together a will. A will allows you to name who will receive your property if something happens to you. With no will, even naming someone on the deed does not necessarily mean it will automatically transfer to them. If your home is “split” between your spouse and children and they don’t all agree as to what happens to it after you pass away, this can cause conflict, too.
If your spouse has surviving children from a previous marriage, this would mean that you may not be eligible to inherit the entire estate. Having a will that clearly stipulates who receives what and how can help you avoid these kinds of problems. Set aside a time to speak with an estate planning lawyer today if you own real property and would like to protect it or pass it on to a specific loved one.
If you need assistance with creating a NH estate plan addressing your needs, schedule a call with our office today.