Passing down dvc to family

[Barron1012]

I believe it has been discussed before on the Dis, but need concrete info on how to pass your dvc to your family members after you die. What is the process and who do I contact ?

 

[_auroraborealis_]

You need to create a will. Because this is real estate if it is to be held by more than one heir you should explore if a trust may be the right instrument for the legacy.

 

[supersnoop]

You pass it down the same way you pass down a house or any other real property. You may want to consult an estate attorney to review your options. Bequeathing it in a will requires that you go through probate in Florida. Owning the property as joint tenants with the right of survivorship allows a surviving spouse or other joint owner to take ownership upon death, but can cause problems if the other owner(s) run into legal or financial trouble. You could also hold the deed in a trust which is controlled by your estate plan.

 

[gharter]

agree with contacting your attorney to be sure its handled correctly.

 

[anomamatt]

The easiest way is to create a living revocable trust and title DVC in the trust's name.