Transfer Deeds & Beneficiary Deeds
Two ways for real estate to avoid Probate are by transferring property to your Trust or by using a Beneficiary Deed.
What is a Transfer Deed (to your Trust)?
A Transfer Deed transfers title from you individually (or as a couple) to you–“as Trustee of your Trust.” While you are alive, this makes little difference. You can still sell your house, apply for a mortgage, etc. However, when you die, this distinction allows your Trust to give any real estate to your heirs without going through the Probate Courts.
What Is A Beneficiary Deed?
A Beneficiary Deed is a type of deed that allows you to give real property to another individual upon death. A few characteristics:
- Property transferred by Beneficiary Deed avoids Probate.
- You can have a single beneficiary or multiple beneficiaries.
- The title does not transfer upon creating your Beneficiary Deed. Instead, the transfer of title would only occur upon your passing.
- You can revoke or amend your Beneficiary Deed anytime during your lifetime.
(Probate is an expensive, time-consuming, court-ordered process to which a decedent’s property is subject upon death. Exceptions for real estate include (1) transfer of ownership via a Beneficiary Deed and (2) transfer of ownership via a Trust.)
Contact Us Now
Have questions? Tell us how we can help! We are always happy to answer questions, schedule appointments, or just point you in the right direction. Call, text, or email!
Our Process
Approachable Estate Planning. From start to finish, we are here to shoulder the load and make Estate Planning easy!
STEP 1
Make an appointment
Call, text, or email and we will find a time that works with your schedule.
STEP 2
Initial appointment
We discuss your life, family, financial situation, & Estate Planning goals. You do not need to bring anything.
STEP 3
Drafting
You do nothing. Relax and we will prepare drafts of your documents in approximately 2 weeks.
STEP 4
Review & approval
You look over your documents. We answer questions and make any changes as needed.
STEP 5
Signing appointment
Once your documents have met your satisfaction, you will sign the final drafts at our office. (In front of 2 witnesses and a notary–provided by us, of course).
