I'm really excited about a new California Law that goes into effect January 1 2016.
Its called a Transfer on Death Deed that is revocable. What is does, that when you die, your residence 1-4 including condo and single family home on agriculture and under 40 acres, will not result in a Probate.
Thus if you do not have a will or trust, the TOD allows you to transfer to your named beneficiary or beneficiaries without Probate.
The Deed had no effect until you die. Please feel free to call my office for more details. #TransferonDeathDeed .
Example mom has a home, she does not have a will or trust there are 3 children she makes them the beneficiary via the TOD In her lifetime and each of the 3 children receive a 1/3 interest as co-owners or tenants in common.
Thus, if you do not have a will or trust, the TOD allows you to transfer to your named beneficiary or beneficiaries without Probate.
The Deed had no effect until you die.
Please feel free to call my California office for more details. Jim W Hildreth LDA 55-007 (888) 877-3189
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