Transfer on death deeds are a great alternative to living revocable trusts in that they allow you to leave real estate outside of probate. One draw back is that you must name specific people, not a class, and there is no contingency planning. Either way, they are worth a closer examination if they are an option in your state. According to Nolo.com, the following currently offer Transfer on Death Deeds:
- Arizona;
- Arkansas;
- Colorado;
- Indiana;
- Kansas;
- Minnesota;
- Missouri;
- Montana;
- Nevada;
- New Mexico;
- Ohio;
- Oklahoma; and
- Wisconsin
Remember, blog post is not legal advice. Please consult with an attorney licensed in your state for advice specific to your situation.
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