A: The stated purpose of the TOD Deed, according to the author of the bill, is to allow seniors, low-income/fixed-income individuals, and individuals whose estates consist primarily of their home to avoid costly and/or complicated probates or trust administrations. Essentially, a TOD Deed, when properly executed, notarized and recorded is supposed to be a simple and inexpensive way to transfer most types of residential real estate (as opposed to creating a living trust, for example).
Q: Why did the legislature create the TOD Deed in California?
by Rose Law Firm of Napa Valley, Inc. | Dec 28, 2022 | Q&A, Title and Deeds |
Categories
- Annual and Lifetime Gift Tax Exclusions (7)
- Business (9)
- Conservatorships (2)
- Español (3)
- Estate Planning (173)
- Joint Tenancy (3)
- Q&A (187)
- Succession Plan (4)
- Title and Deeds (24)
- Trust And Estate Administration (63)
Recent Posts
- Q: My partner and I are not married and do not plan to marry. Can we still benefit from an estate plan?
- Q: I own a business and a home. Should I still have a living trust even if I am unmarried and don’t have any children?
- Q: Is it true that my mother’s estate, which was rather modest, will not require a full probate because of its relatively small value?
- Q: My uncle died and his estate needs to go through probate. He did not have a Will. Who will receive the assets of his estate at the end of the probate?
- Q: Why might it be better for me to completely restate my trust versus simply amending it?