One easy and inexpensive way to handle the transfer of real estate, without the need for probate, is to have a Beneficiary Deed prepared and recorded.
Arizonans are very lucky because not all states have something similar to a Beneficiary Deed.
If you own any real property in the state of Arizona and it is not titled to a trust – you NEED a beneficiary deed.
A Beneficiary Deed allows you to designate who will receive your interest in real property after you die.
If you own real property, having a Beneficiary Deed will save thousands of dollars in attorney’s fees for your estate.
- A Beneficiary Deed will take your property out of the probate estate, avoiding expenses and delays.
- The probate process is long and expensive, with a minimum timeline of six months, you can avoid that entire process with a recorded Beneficiary Deed.
- With a Beneficiary Deed, your real property will be transferred to a person or persons or entity of your choosing. Your interest in the property will be transferred upon the recording of your death certificate in the county in which the real property is located, making for a smooth and simple transition for those involved.
- A Beneficiary Deed does not affect your ownership during your lifetime. You can continue to use or live in your property, and maintain the right to sell it, until you die. A Beneficiary Deed will not take effect until you die and until then you can revoke the deed or make changes as you see fit.
Having a Beneficiary Deed in place is one of the easiest and most cost-effective ways for you to transfer your interest in real property to a loved one after you die.
Take control of your assets and your estate, be prepared, and get started on your Estate Plan now by calling the attorneys at OWENS & PERKINS at 480.630.2464 to schedule your FREE 30 minute consultation.