The Transfer on Death Deed (“TOD Deed” for short) is a relatively new estate planning tool. For most of us, our home is our biggest asset… and a Transfer on Death (TOD) Deed is a great way to manage your estate without the headache and expense of setting up a trust. You still retain full control of the property, since title isn’t actually transferred until your death. That means you can always change your mind! And most importantly, your heirs will still avoid the long, expensive and painful process of going through probate. For more information (from a real live person), give us a call at (855) DOC-EASY.
With a Transfer on Death (TOD) Deed: The “TRANSFEROR” retains the power to sell the property without consent from the “DESIGNATED BENEFICIARY”. The “DESIGNATED BENEFICIARY” can be changed or revoked at any time. The “DESIGNATED BENEFICIARY” can be an individual, a corporation, an estate, a trustee of a trust, a partnership, a limited liability company, an association, a joint venture, a public corporation, a government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. The TOD Deed must be recorded within 30 days of its execution. The TOD Deed must be also executed by 2 disinterested witnesses. There are several elements that must be included in the Transfer on Death Deed for it to be considered valid. Docprepper.com helps you make sure everything is done correctly, so you don’t have to worry about anything… we’ll even record it for you in over 50 Nebraska Counties!
Beneficiary Deed
A Beneficiary Deed is a valuable estate planning tool. It successfully avoids probate by naming a “GRANTEE BENEFICIARY”: someone who will inherit the property upon death of the “OWNER”. Recording a Beneficiary Deed also has the added advantage of the Owner retaining full control of the property… The Beneficiary Deed can be revoked by the Owner at any time, or the property sold without approval from the Grantee Beneficiary. For most of us, our home is our biggest asset. A Beneficiary Deed is a great way to avoid probate without the headache and expense of going through probate or setting up a trust. For more information (from a real live person), give us a call at (855) DOC-EASY.
There are several advantages to using a Beneficiary Deed: The “GRANTOR” retains the power to sell the property without consent from the “GRANTEE BENEFICIARY”. The “GRANTEE BENEFICIARY” can be changed or revoked at any time. You can name multiple beneficiaries. You can choose what happens if a grantee predeceases the owner. In that case, the conveyance can: Become null and void or Become part of the estate of the grantee beneficiary Name a successor grantee beneficiary.
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