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What happens on my death to property solely in my name?

For estate tax purposes, the entire amount of the solely owned property will be included in your gross estate.


You will want to plan for the proper transfer of the property – you can leave it to whomever you wish, and may make a specific bequest of the property to one or more individuals through a will. If you do not have a will (or a trust) on your death, the property will pass to your heirs and beneficiaries according to the rules of intestate succession in your state. Those rules determine the order in which the property passes to the heirs and the amount of the property that goes to each.

If you die both without a will and without living heirs or designated beneficiaries, the property will “escheat” to your state. To avoid this, you should have at least a will—even if you have no relatives to bequest property to, you could leave it to a favorite charity.

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