Utah law allows you to record a Transfer on Death Deed to transfer ownership of real estate to a beneficiary upon the owner’s death. By completing and recording a Transfer on Death Deed, the owner can avoid probating the real estate, such as a home or land. This deed doesn’t transfer you the property immediately. Instead, it transfers the property only upon the death of the owner(s).
Benefits of a Utah Transfer on Death Deed
- Avoid Probate – Probate is litigation to transfer ownership of your property upon your demise. A Utah Transfer on Death Deed automatically transfers ownership to the real estate upon your demise, thereby avoiding probating this–usually your most valuable–asset.
- Retain Control – You retain fully control over your property during your lifetime. A Utah Transfer on Death Dees is also revocable. That means you can change, alter or revoke the deed at any time prior to your demise. You can also sell the property without the consent or even knowledge of the beneficiary.
How Can Transfer on Death Dead Be Used In My Estate Plan
A Utah Transfer on Death Deed can be used in conjunction with “alternative” estate planning methods, such as joint ownership, to avoid probate. Trusts are a popular estate planning vehicle to transfer property and avoiding probate. A Transfer on Death Deed allows you transfer real estate–but real estate only–and avoid probate without the costs of a trust.
Steps to Implement a Transfer on Death Dead
- Purchase the TOD from www.capstonelaw.net.
- Login and through our online interview to draft the deed.
- Download, print and notarize the deed.
- Take the Deed to county recorder where the property is located and have it recorded.
After purchase you will have access to our online form that walks you through all the necessary questions to design the estate planning document. After submission, you will receive an email with the legally binding estate planning documents that are ready to print and notarize.