How To Avoid Probate On Your Home

A "Transfer on Death Deed" is a deed form which allows the owner of property to designate, in the deed itself, a beneficiary (or beneficiaries) who will receive the property upon the death of the owner.

Visit TpcLaw.com for more information. NOTE: These videos were recorded in 2014; most of the information still applies today, but please be advised that some laws and information may have changed. This video is intended to provide general legal information only; legal information is not legal advice and you should consult with qualified legal counsel prior to implementing any estate planning. The transmission or receipt of information to or from this video is not intended to create, and does not create or constitute, an attorney-client relationship.

What are the benefits?

1. Retains all ownership interests.

The current owner retains all the rights of ownership and has exclusive control over the property. The owner may do whatever he/she wishes with the property, including changing the designated beneficiary, without seeking permission from or the approval of the designated beneficiary.

2. Avoids probate.

If your Deed is in a Transfer on Death form, your real estate will not be subject to probate at your death. It will pass automatically to the person or persons named on the Deed by simply recording an Affidavit and Death Certificate with the County Recorder at the time of your death. By avoiding the need to probate your estate, your beneficiaries will save the time and expense of a court proceeding.

3. Protects Your Asset.

Since your beneficiaries have no present interest in the real estate, any legal action such as bankruptcy, divorce, lawsuits, or judgments brought against any designated beneficiary will not affect your real estate. Your beneficiary's creditor cannot place a lien on your property. Your beneficiary also will not be able to transfer, mortgage, or pledge his or her interest in your property during your lifetime.

If you change your mind, you may sell your real estate without restriction and without the signature of the TOD beneficiary.

4. Allows a Change of Beneficiary.

You may have more than one beneficiary listed as a transfer on death beneficiary. Each beneficiary listed will have an equal share of the real estate. If you wish to change the beneficiary on your Deed during your lifetime, you may do so without obtaining the signature of the original named beneficiaries. In other words, you control who you wish to name as beneficiaries at all times and can change that designation as you wish.