The Moneyist: ‘I grew up an only child’: My father wants me to inherit the family home, but my late mother also had a son from her first marriage. Are we doing the right thing?

by | Aug 18, 2022 | Stock Market

Dear Quentin, My mother and father were married for almost 60 years, and my mother just passed away. I grew up an only child. I am my father’s only child; however, my mother was married before him and has a son who is my half-brother. She didn’t raise him, nor did she see him until he looked her up about 20 years ago. 

When my mother died, my father wanted to make sure I inherited their home, their savings and their personal property without it going through probate, ensuring nothing could be contested. This is what he did. He filed a transfer-on-death deed with the county recorder in our county in regards to the house. When he dies, the house will automatically go in my name. No probate needed.

“‘My half-brother is 10 years older than me and a very nice man. I’ve seen him maybe four or five times at most in the last 20 years and never before that. We really don’t stay in contact.’”

He then went to the bank, and on his checking and savings he made the accounts TOD (trans …

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