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What To Do With Your Home Before And After Your Passing

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If your adult children plan to fight over your home after your passing, you may want to speak to a real estate attorney for advice. Although you love your children, the sibling rivalry can create hostility in your family. This is something you want to avoid now and in the future. Here are two options you may want to consider to avoid conflict in your family after your passing.

You Leave the House to Someone Else 

If you purchased your home with a beloved spouse, you may have a lot of great memories invested in your house. Because of this, you may want to keep those memories alive by leaving your home to your adult children. However, if your kids simply can't get along and will eventually fight over the home, you may want to leave the home to someone else.

Before you decide to pass the house on to a friend or other relative, such as a niece or nephew, you should put it in writing. A real estate attorney can help you do this quickly and legally. Your children can contest your decision, but they may not have the ability to contest a last will and testament.

A last will and testament is a legal document written by you, as well as witnessed and signed by your attorney. Your attorney files a copy of the will with the state, which protects your last wishes. It comes in handy if your kids decide to contest your decision at the reading of your will.

You Sell the Home 

Now, if you decide to eliminate the problem and sell the home before you pass on, your real estate attorney can help you do so. Your lawyer may put the home up for sell once you find a new place to live. In this case, the attorney can assist you in finding an apartment or independent living facility as your new home.

Keep in mind that you can choose to use the proceeds from the sale of the home for your living expenses, or you can leave the money in your will for your children. Your attorney can give each child an equal share of the proceeds if you decide to go this route.

Taking steps to protect your home before your passing is essential. But if you can't leave the house to your adult kids without turmoil, speak to your real estate attorney about your options. It may alleviate a great deal of stress from your life.