What is a Transfer on Death Deed and how can it benefit me?
What is a Transfer on Death Deed?
A Transfer on Death Deed is a tool that allows you own and control real property during your lifetime and then pass your real property to beneficiaries after your death without having to probate your estate. A Transfer on Death Deed needs at least one beneficiary but can have multiple beneficiaries and can have contingent beneficiaries should a primary beneficiary predecease you. The Transfer on Death Deed must be recorded in the Deed Record of the County where the real property is located prior to death. Other than passing real property outside of the probate process, a benefit of Transfer on Death Deeds is that it protects your homestead real property from a Medicaid recovery claim if you receive Medicaid benefits.
For more information on Transfer on Death Deeds and Medicaid Planning In The State Of Texas, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (830) 625-9300 today.