Can you transfer specific properties without going to probate?
by admin ~ February 3rd, 2008 . Filed under: Law & Ethics .
James Bong asked:
For example
For example
My father owns the car (paid in full)
He also owns the house (1/2 own)
Can we transfer the car to a next of kin without probate due to the value and work the House issue separately..?
or do I have to combine the total asset under one gross value?
Thomas
February 6th, 2008 at 2:37 pm
if you are the only son yes. if you are not its best to go to probate it gives you it period. if there are other people that would want a pice of the pie or try and contest this is why you probate.
February 8th, 2008 at 11:56 am
It depends, IS he dead yet?
February 8th, 2008 at 4:38 pm
Is your father still alive? Because if he is you can transfer any of his assets to anyone he wishes.
If he’s passed away then whether or not assets are handled by probate is determined by his will.
If he’s still alive and wants to transfer assets then you should consult an attorney. The attorney may suggest a family trust.