Probate
Aug. 11, 2016
Transfer on death deeds provide a new estate planning tool
The estate planner's tool kit has expanded ever so slightly with the California Legislature's creation of "transfer on death deeds," which allows an owner of real property to designate a beneficiary to receive the property upon the owner's death.
The estate planner's tool kit has expanded ever so slightly with the California Legislature's creation of "transfer on death deeds." The scheme, which is codified at Probate Code Sections 5600 et seq. and was made effective on Jan. 1, 2016, operates much like beneficiary designations for retirement accounts.
A transfer on death deed allows an owner of real property (grantor) to designate a specific beneficiary or beneficiaries who will receive his or her real property upon death. Th...
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