Saturday, January 24, 2015

"John Doe" owns a house free and clear and has other assets with no outstanding debt. John Doe changes the Owner of Public Record from "Joh...

Question

"John Doe" owns a house free and clear and has other assets with no outstanding debt. John Doe changes the Owner of Public Record from "John Doe" to " The living trust of John Doe" but then never bothered to set up a living trust and John Doe dies. What happens to the house and his assets?



Answer

Estate must go to probate to transfer assets and pay liabilities.



Answer

It becomes part of his estate.



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