Our beneficiary deed template and guide will allow you to pass on your real estate to your loved ones today.
What You Should Know Before Using Our Beneficiary Deed Template
Beneficiary Deeds—also known as a transfer on death deed—is an essential document used to pass on your real estate to loved ones. The benefit of using this form is that it allows you to skip the process of probate.
Probate is a lengthy and costly affair where the government decides who gets the real estate after someone passes away. This process drag on for a few months. Furthermore, costs associated with legal and court fees can exceed a few thousand dollars.
As a transfer on death deed form only becomes applicable upon death, you will continue to have absolute control over your property after signing it. As you have full ownership of the property, you can still rent, refinance, or sell the property. Finally, if plans change, you can draw up a new deed with different or added beneficiaries.
So far 12 states have passed laws allowing the use of this deed - Arizona AZ, Arkansas AR, Colorado CO, Kansas KS, Missouri MO, Minnesota MN, Montana MT, Nevada NV, New Mexico NM, Ohio OH, Oklahoma OK. and Wisconsin WI.
If you do not live in one of these states yet would still like to leave your real estate to your loved ones, you can consider turning to a Life Estate Deed instead.
Use our beneficiary deed template to quickly and easily leave your real estate to your family today.