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In some states it would work, in others it would not. To be sure that it would work for you, you would have to check out the laws of your state. Beware though, with this kind of “dresser drawer deed,” there might be some negative tax consequences, such as owing capital gains tax on the amount the property has increased in value over the years.
→ Read MoreProbate is an expensive and long court proceeding in which a will is reviewed, made public and determined to be valid or invalid. While probate should ideally last no longer than four to six months, realistically some wills take as long as two to three years to probate. With so many disadvantages to the traditional court system, it is no wonder that many people seek ways to avoid the probate system entirely. The following are some of those ways.
→ Read MoreFind the right lawyer for your legal issue.
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