Davis & McCann
  • Home
  • Practice Areas
  • About
  • Attorney Profiles
  • Blog & News
  • Contact Us - Directions
  • Make a Payment

Will Your Out of State Vacation Home Require Probate?

6/20/2019

 
Picture
It’s finally summer. The kids are out of school and now is the time to visit the family vacation home for some rest and relaxation! If you’re like most people, your vacation home probably is located in a different state than your primary residence. As an owner of a vacation home, do you know how it will pass after your death to your heirs? 

When someone dies in Kansas, any property owned in their individual name and without a Transfer on Death Deed will require a probate proceeding in order to transfer ownership to their heirs or beneficiaries. However, Kansas probate only applies to Kansas property. Real estate owned outside of the state—like a vacation home or investment property—will require a separate probate in the state where the property is located, known as an ancillary probate. 
​
If the vacation home or investment property is put into a Trust during the owner’s lifetime, however, a probate ​can be avoided and the property can pass to whomever is named in the Trust. Even out of state  

property can be transferred to a Trust, thus avoiding the need for an ancillary probate. The type of Trust most often used for this purpose, due to its flexibility, is a Revocable Trust. As its name implies, a Revocable Trust can be modified in any way at any time by the person who created it (a/k/a the Grantor), so long as the Grantor still has the mental capacity to do so. Assets placed in the Trust can be removed during the Grantor’s lifetime whenever necessary and Trust provisions, such as the Trust beneficiaries or Trustees, can be easily changed.

When you own property out of state, be sure your estate planning attorney is made aware of your ownership interest. If not properly addressed, even partial ownership in such a property can be problematic after your death. This includes ownership in time-share properties. If you fail to plan for the transfer of out of state property, your heirs may end up with a time-consuming and expensive mess to deal with after your death. You might want to consider establishing a Revocable Trust now so that your heirs and loved ones can avoid the pains of probate not only in Kansas, but in a secondary state, as well. 
​
For more information on Estate Planning and Probate avoidance, contact Davis & McCann, P. A., Dodge City, KS. We are members of Wealth Counsel, a national consortium of Estate Planning Attorneys and the National Academy of Elder Law Attorneys (NAELA). We focus our practice on providing clients with the best legal advice on Estate Planning, Medicaid and Long-term Care Planning, Family Business/Small Business Succession Planning, Probate, Trust Administration, Real Estate Transactions, and related matters.

Comments are closed.
    Picture

    NEWS YOU CAN USE

    Davis & McCann, P. A.,
    ​A Premier Estate Planning law firm in Western Kansas

    Archives

    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    May 2017
    August 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    September 2014

    Categories

    All
    10 Year Anniversary
    Attorney
    Business
    Conservatorship
    Dodge City
    Elder Law
    Estate Administration
    Estate Planning
    Executor
    Firm News
    Guardianship
    Kansas
    Kristina Crawford
    Long Term Care Planning
    Long-term Care Planning
    Medicaid Planning
    Megan-l-mccann
    National-academy
    Probate
    Real Estate
    WealthCounsel

    RSS Feed

107 Layton Street, Suite A
Dodge City, KS 67801
620-225-1674

Davis & McCann,P. A. is a premier Estate Planning law firm in Dodge City, Kansas, assisting Western Kansas clients with Estate Planning, Probate, Trust Administration, Business Formation, Business Succession Planning, Farm and Agricultural Business Succession Planning, Real Estate, Elder Law (Medicaid and Long Term Care Planning).  The information found on this website is for informational purposes only and is not a legal opinion, does not provide legal advice for any purpose, and neither creates nor constitutes of an attorney-client relationship.
© 
  • Home
  • Practice Areas
  • About
  • Attorney Profiles
  • Blog & News
  • Contact Us - Directions
  • Make a Payment