Serving individuals and businesses |
314-527-3224

Beneficiary deeds benefit real estate owners

Owning real estate can be a great way to invest. However, when it comes to estate planning, property is often difficult to protect. You want to ensure your loved ones receive the fruits of your labor.

A beneficiary deed, also known as a transfer-on-death deed, allows individuals who own real estate to transfer their property to their heirs after they die. Unlike other deeds, a beneficiary deed does not become effective until the last owner of the property passes away. In some cases, estate planning tools such as wills and trusts are unnecessary.

Avoiding probate

Probate is a time-consuming and costly process that assets go through when there is no estate plan. Having a beneficiary deed will protect your transferring assets and ensure it all goes to the right people.

A beneficiary deed also protects property from potential conflicts, such as disgruntled relatives.

Completing an estate plan

A beneficiary deed is often useful in completing an estate plan. In this case, real estate within the beneficiary deed transfers into a trust after the last owner dies. Trusts provide control over the distribution of property and an extra layer of protection. Saving money is another notable benefit, as it does not present interest for your heirs and can minimize estate taxes.

When setting up a beneficiary deed, you will identify yourself as the grantor and your heir as the beneficiary. It is important that a beneficiary deed is properly recorded in the Office of the Recorder of Deeds for the County where the property is located. A beneficiary deed presents some disadvantages if done incorrectly. Every estate planning need varies, and may require a unique approach.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Contact The Firm

Contact the Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

St Louis Office
4509 Lemay Ferry Road
St Louis, MO 63129

Phone: 314-527-3224
Fax: 888-288-9341
St Louis Law Office Map

Chesterfield Office
16091 Swingley Ridge
Suite 220
Chesterfield, MO 63017

Phone: 314-527-3224
Map & Directions