While it’s never too early to create a will or estate plan, it becomes especially important once you own a home, particularly if you’re over 55.

Without clear legal instructions, decisions about your property could be made by the state, not your family.

• No will or trust? State law decides who inherits your home.
• The probate process can be long, expensive, and emotionally draining for your heirs.
• In rare cases, your property could even go to the state if no heirs are found.

If you haven’t made a plan yet, start by asking:

• Would placing your home in a trust help your heirs avoid probate?
• Is a “transfer on death” deed available in your state? What are the pros and cons?
• Could your beneficiaries realistically afford the mortgage, taxes, or upkeep?
• Is your home title current, especially after refinancing, name changes, or ownership adjustments?

Asking these questions now and getting a plan in place can help you protect your legacy and prevent confusion, delays, or disputes down the road.

As a Seniors Real Estate Specialist®, I work with clients over 55 every day, and I see just how important it is to have a plan for what happens to your home after you’re gone. If you’re ready to take the next step, I have a trusted network of estate planning attorneys I’d be happy to refer you to.

Believe me, your family will thank you.

For more information, please read the National Association of REALTORS Consumer Guide: Your Home and Estate Planning.

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