Secure My Legacy

Pass on your home to those you love through a will or a deed.


Will

Everyone needs a will. It is important for deciding who will inherit your things, who will be your personal representative and who will be the guardian of your children.

Your will can also designate who will inherit your house. However, if the deed already designates who will receive your house, then it supersedes the will. Therefore, it is important to know what your deed really says.

If neither the will nor the deed designate who will inherit your house, then several of your heirs may become joint owners of the property. This can make it difficult for your family because then all of the heirs would need to agree about how to use the property.

In Maryland, if you are leaving property to someone other than your spouse, sibling, parent or descendant, then you may want to consult a professional in order to limit the amount of inheritance tax that may be due.

Life Estate Deed

You can pass on your property through a life estate deed. You would write a new deed that causes the property to immediately change ownership to your stated beneficiary upon your death. The property passes outside of probate which can advantageous because the property can pass to the new owner immediately instead of having to wait for probate to finish.

You can execute a life estate deed "with powers" meaning that you retain the rights to sell or mortgage the property or you can execute a life estate deed "without powers" meaning that you don't retain those rights. Executing a life estate deed without powers can be beneficial for Medicaid eligibility.

Non-probate property transfers are still subject to inheritance tax, so if you are leaving property to someone other than your spouse, sibling, parent or descendant, then you may want to consult a professional in order to limit the amount of inheritance tax that may be due.


Deed with the Right of Survivorship

Jointly-owned property can also pass automatically at your death if your deed has a right of survivorship. A right of survivorship means that the property will automatically pass to the surviving owners upon one owner's death without the need for the property to go through probate. 

If you and your spouse's names are on the deed, then the property most likely is deeded as a "tenancy by the entireties" which has right of survivorship.

There is also a "joint tenancy with the right of survivorship" where joint owners have a right of survivorship. 

If the owners do not have a right of survivorship, a deceased joint owner's share of the property will pass to their heirs, not to the others on the deed.

A right of survivorship can be established by writing a new deed. The new deed would need to be signed by all the current owners.

Passing on your home through a will or deed is part of your estate planning. Estate planning also includes having a power of attorney and advance medical directive. Learn more about estate planning here.

If you qualify, we can help you draft these documents for free.

If you qualify, we will try to match you with a volunteer attorney to help you for free.

We do clinics in the Baltimore region to help eligible clients with wills and deeds.