Posted by JML755 on April 25, 2013 at 05:12:57 from (97.78.165.185):
I've got a couple of properties (acreage and a 2nd house) besides my current home. I'm planning on typing up Warranty Deeds to add my kids (keeping my wife and I on as well) as Joint Tenants with Rights of Survivorship.
From past experience, I've found this is a good way to handle assets w/o going through probate. When an aunt passed away, I was able to sell stuff, divide it up to the heirs w/o any hassles.
Talking to some people, trusts are another way to handle this and I was wondering how you guys have handled this now or in the past. With the exemption at over $5mil, I'm not too concerned about estate taxes, but just wondering what method makes it easiest for heirs to deal with the assets.
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Today's Featured Article - Timing Your Magneto Ignition Tractor - by Chris Pratt. If you have done major engine work or restored your tractor, chances are you removed the magneto and spark plug wires and eventually reached the point where you had to put it all back together and make it run. On our first cosmetic restoration, not having a manual, we carefully marked the wires, taped the magneto in the position it came off, and were careful not to turn the engine over while we had these components off. We thought we could get by with this since the engine ran perfectly and would not need any internal work. After the cleanup and painting was done, we began reassembly and finally came to t
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