Please read this DISCLAIMER before reading below.
A Missouri Beneficiary Deed allows owners of Missouri real estate to transfer their property to an individual or entity at their death without a Will, Trust, or any estate planning. A Beneficiaries Deed Lawyer drafts the Beneficiary Deed like most other real estate transfer deeds and then it is recorded in the Office of the Recorder of Deeds for the County where the property is located. However, unlike other transfer deeds, a Missouri Beneficiary Deed is drafted in a manner so that it does not become effective until the last owner of the property has died. Chapter 461 of the Missouri Revised Statutes contains the law that allows for Beneficiary Deeds.
A Beneficiaries Deed is also commonly used within a complete estate plan to transfer the real estate into a Trust at the death of the last owner. A Trust is an extremely important part of an estate plan that provides control over the distribution of property and can minimize estate taxes. In order for a Trust to function, the property must be placed into the Trust. However, placing real estate directly into a Trust while the owners are living eliminates a protection Missouri law provides to real estate owned by "tenants by the entirety." Utilizing a Missouri Beneficiary Deed in conjunction with a complete estate plan allows the real estate owners to realize the benefits of a Trust and maintain the protection provided by Missouri law.
Whether you desire a complete estate plan including a Beneficiaries Deed or just a Beneficiaries Deed, the Estate Plan and Real Estate Attorneys of TdD Attorneys at Law can provide the timely service you should expect from a Estate Plan Lawyer at a reasonable cost.
Chesterfield Estate Plan Lawyer
From offices in St. Louis, Missouri, TdD Attorneys at Law LLC, represents clients in communities throughout the metro area including St. Charles, St. Peters and Chesterfield. Contact attorney Ted Disabato at 314-527-3224 to schedule an initial consultation with an experienced St. Louis and Chesterfield estate plan lawyer today. Our firm offers reasonable fees and payment arrangements to all clients.
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IRS CIRCULAR 230 DISCLOSURE: Federal law requires us to advise you that any federal tax advice contained in this communication is not intended and cannot not be used for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.