Everyday Law and Common Question articles are written by Law Librarians on a variety of common legal issues in consumer law, family law, neighbor situations, and more.
Keeping Your House Out of Probate
Your home is often your largest asset, and something you want to ensure transfers according to your wishes after your death. Without any advanced planning, your loved ones may be saddled with a complicated court procedure after you’re gone in order to transfer your home to your heirs. Luckily, there are several ways this can be avoided. These methods include adding new owners onto the title now (although this has some significant drawbacks); creating a trust to hold your home and other assets and facilitate easy transfer after your death; or recording a Revocable Transfer on Death (TOD) deed. TOD deeds are new in California, having gone into effect January 2016. TOD deeds allow California homeowners an easy way to name beneficiaries who will receive the property when they die, without the need for probate. Click here for the rest of the story.