We often get calls asking about Affidavits of Heirship, and if they are a good alternative when a loved one dies without a Will. Affidavits of Heirship can be a tempting alternative to instigating a probate proceeding because of the substantially lower initial cost, but there are limitations and risks associated with this alternative. Most financial institutions and title companies fail to advise clients of these limitations and risks.
We continue to have a lot of new and existing clients whose loved ones have died with real property interests in other state. They are often surprised when we advise them that in order to transfer title to those interests, they will need to file and go through that state's probate process. Typical out of state real property interests include vacation homes, beach condos, rental homes, ranches, farms, and mineral interests.
September 11, 2015
Over the last few weeks several of our new clients have had questions about the probate process for real property located in other states. I wanted to share with you some basic information about the process to help you understand and plan for the impact of owning out of state real property.