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What are the pros and cons of establishing Heir property

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Dee Guest	Posted: Thu Aug 25, 2011 6:23 am    Post subject: What are the pros and cons of establishing Heir property Like 0 Dislike 0 What are the pros and cons of establishing your property as "Heir Property"? In which the property is left to three generations. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10382 Location: Alaska 976.66 Dollars($)	Posted: Thu Aug 25, 2011 8:15 pm    Post subject: Like 0 Dislike 0 Hi Dee! Welcome to forums! If you declare your property as heir property, then it will be easier for your heirs to claim the property when you're no more. However, once you transfer the property to your heirs, they may ask you to leave the property. Thus, it's better to include a life estate clause in your name while you transfer the property to your heirs. This will give you the right to stay in the property until death. Feel free to ask if you've further queries. Sussane

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