A: One of the best ways to help them is to transfer your home into a living trust. This allows real estate to transfer to them without the delay of probate.
There are two types of trusts. The irrevocable trust, once it is set up, transfers immediately to your heirs upon death. A revocable trust is similar, except that it also gives them control of your property should you become mentally incapacitated.
You should discuss this with an attorney who specializes in estates and trusts. You can even arrange for a real estate agent to help value and sell the property when the time comes.
Q. I’m planning on moving to a rental in two months. When should I start looking?
A: Generally, if you’re looking at a vacant apartment, the landlord wants it rented as soon as you are approved or up to about two weeks.
It’s not a bad idea to talk to an agent, but you should start to look about 30-45 days before you’re actually ready to move, unless you are looking for something very specific that doesn’t come up often.
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