probate
I have a home and signed a quick claim deed for my x-husb as we are joint tennants, if I die will this house go through probate? what about mortgage or equity loans? Do I need a will?
Re: probate
1) 'signed quit claim deed to your husband' - a quit claim deed releases your interest in the property, and thus it will not be part of your estate should you pass
2) Probate? - see above
3) Mortgage and Equity Loans - depends if you were released from the loans pursuant to your divorce decree
4)Do you need a will? - First of all, a will does not avoid probate, but having an asset titled as joint tenants with joint survivship. Wills should be used if you want to determine who receives your property. Otherwise, the state will decide who receives it. Its also necessary if you have kids, so you can decide who gets custody. Otherwise, the courts will decide who gets custody of your children.
Hope this helps,
Re: probate
1) 'signed quit claim deed to your husband' - a quit claim deed releases your interest in the property, and thus it will not be part of your estate should you pass
2) Probate? - see above
3) Mortgage and Equity Loans - depends if you were released from the loans pursuant to your divorce decree
4)Do you need a will? - First of all, a will does not avoid probate, but having an asset titled as joint tenants with joint survivship. Wills should be used if you want to determine who receives your property. Otherwise, the state will decide who receives it. Its also necessary if you have kids, so you can decide who gets custody. Otherwise, the courts will decide who gets custody of your children.
Hope this helps,
