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The process of getting approved for, finding, and purchasing a home can be a gratifying, but arduous process; but when the deed is signed, it is imperative to add one more step to protect such a big investment. 

Legally adding a newly purchased home to one’s list of possessions–also known as estate planning–is the only way to protect the home’s smooth transfer to family and ensure generational wealth.

“That way, whatever you’ve accumulated in life goes to the people you want it to go to,” said Murray Scheel, managing attorney for the D.C. Bar’s Future Planning & Probate Program. “Everything that you may happen to own or ever will own or have control over in your life, your car, house, an apartment, anything else that you may ever come to own or have … it’s much simpler for everybody, better for you, better for the people that survive you, if you’ve got a plan in place for that.” 

When it comes to property, estate planning designates who will inherit a home or land. It can also dictate how the property is divided amongst family or loved ones or if it should–or should not–be sold. If there is no estate plan, the property goes through a process called probate where family members must wait on the local government to make a decision on who is entitled to receive the property. In the absence of a will, in some cases, the property can be taken by the government and sold in auction. 

“The will leaves all control in your hands,” said Tina Nelson, senior managing attorney with . “So you decide who you want to let your property after you pass and you don’t have to look at the government of the District of Columbia to decide who gets your property and what percentage.”

Nelson also cautions residents to store original copies of wills safely so that someone can locate it when it becomes necessary.

“I do want to get a will and make sure that the things I’ve worked so hard for over the years are protected,” said Dr. Gwen Adams, a septuagenarian who owns a home in Clinton, Maryland. “The reason I don’t have one yet is probably procrastination. You say you’re gonna do it, then put it off until tomorrow, but then often don’t do it tomorrow. There’s so many things we put off until tomorrow. But the truth is, we can’t miss opportunities.” 

‘It’s Not Just for Really Wealthy People‘

Estate planning does not discriminate— all homeowners are encouraged to do so. 

“Getting an estate plan together is not just for when you’re older or any particular time or age,” said Scheel. “It’s not just for really wealthy people. It really takes a conversation with an estate planning attorney.”

Working with an estate planning attorney can cost anywhere from $250 to $5,000, depending on a client’s needs. Many programs exist in the DMV providing the service for free or at discounted rates including the , , in addition to law school clinics led by students and supervised by faculty attorneys, like co-led by Professor Aimee Griffin. 

Howard’s clinic sends students and their supervising attorneys into the community to educate people on estate planning and heirs’ property on a personal level during group discussions and individualized sessions. If interested, a lawyer-client relationship can be set up to formally assist residents in completing wills, powers of attorney, advanced directives for healthcare and more.

Griffin said the worst case she’s seen involves a family that didn’t inherit an estate plan from the matriarch. Following two deaths in the family, a relative remained in the home and refused to move out despite siblings’ wishes and utilities being turned off. The family was forced to sue the sibling and the sibling, in turn, sued.

“There’s much money being spent on legal fees and there was money that was lost because there was someone who was willing to buy the home for so much more,” said Griffin, who is also the principal for Life & Legacy Counselors, an estate planning law firm serving the DMV, Massachusetts, New Jersey and Pennsylvania. “But everybody is losing as a result, and not only that, the relationships have been absolutely destroyed. I encourage you to preserve and protect. Your house is both a liability and an asset. It’s easy if you know where your house is going.”

Education, Asking Questions Leads to Protection, Empowerment

John Square, III, a rising third-year Howard University School of Law student who works with the clinic, rarely counsels fellow xennials and millennials, but feels it’s never too early to learn and start planning.

“You might not be educated on the topic but it’s also because a large part of creating an estate plan is having assets and sadly, a lot of 20 and 30 year olds don’t have assets,” he said. “But those of us who do definitely should be educated on these things and participate in estate planning clinics or just create their own plan if they have assets.”

While experts say naming loved ones in an estate plan is the surefire way to ensure generational wealth, it is also important to know how to do so without hurting their eligibility for healthcare benefits, college loans or first-time homeowner programs, for example. 

Maryland estate planning lawyer Leah Boston emphasizes talking to loved ones in advance of preparing a will.

“A lump sum distribution may cause a beneficiary to lose governmental benefits,” Boston said. “If you have a disabled child or you have an elderly parent that’s on Medicaid, Medicare, or getting some sort of disability…. those lump sum distributions from your estate now go to this person, they may get kicked off [from receiving] benefits.”

However, Boston said asking questions and pre-planning is one way to prevent challenges in the future. 

“It’s really sad that these are possible issues that can happen,” she said, “when the simplest thing that we can do is either put together a will, or put together a trust, or talk with an estate plan attorney.”