Beneficiary Deed Benefits and What They Are

September 18, 2017 5:16 pm, Published by

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Beneficiary Deeds are a great way to pass your real estate to your loved ones with very little hassle. 
Here are some benefits:
  • Avoid the costs and complications of probate administration
  • Avoid the costs and complications of trusts
  • Allow you to designate who you would like to receive your property after you pass, without affecting your ownership today
  • They can be revoked or changed at anytime while you are still alive
  • They do not impair your ability to sell or manage the property

Some draw backs
  • If you own your the property as your own sole property, but you are married, then you need to make sure to also record a disclaimer by yoru spouse, so that their potential interest doesn’t affect your beneficiary deed instructions
  • If you own the property as a joint tenant with rights of survivorship with other owners, then if you pass first, the other owner(s) who survive your could undue your wishes you stated in your beneficiary deed
Give us a call to discuss the specifics of your situation and put a beneficiary deed in place if it makes sense for your Estate.

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