Passing a family home to the next generation is one of the surest ways to create financial stability and generational wealth. But when the next generation doesn’t have clear title to the home or land, families face significant barriers to retain ownership of “heirs property”—property that passes from one generation to the next without a completed probate proceeding. They may not be able to obtain property tax relief, access disaster recovery assistance and home repair funding, or even secure utility service. A little known tool called an “heirship affidavit” can help resolve these challenges.
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