Question: My mother’s only significant asset is her home in central Phoenix, which is worth $62,000. My mother owns the home free and clear. My mother is competent but in poor health. I am her only child. How can we avoid probate when my mother passes away?
Answer: Inasmuch as the only real property owned by your mother is worth less than $100,000, you simply can transfer the home to yourself by affidavit after your mother’s death. The disadvantage, however, to this transfer by affidavit procedure is that the transfer by affidavit cannot be done until six months after your mother’s death. Therefore, I would recommend that your mother execute and record now a beneficiary deed granting the home to you upon her death.