Most Cost-Effective Estate Planning Tool?

What is the single most cost-effective, efficient estate planning tool I can use?

While that question is certainly loaded, the quickest, most cost-effective move that will save you the most money (if you do nothing else, that is) is to have a BENEFICIARY DEED on your house.

What is a Beneficiary Deed?

A Beneficiary Deed is a legal document that transfers your home to one or more persons upon your death. It is a document typically filed with the Recorder of Deeds in your County.

Why is this the most effective and cost-efficient option you can think of?

Well, for most folks, your house is the most valuable thing you own. While most Financial Advisers will have you put Transfer on Death (T.O.D.) provisions on your retirement accounts, most F.A.'s won't talk about your house. After all, that's not why you're visiting with them.

As a result of this oversight, if you pass away and your house is an asset put through probate court, you (read: your children, wife, husband, etc.) can count on paying thousands of dollars in attorney’s fees to transfer ownership of your house.

So how do I file a beneficiary deed?

Contact me. I can put together a beneficiary deed for a couple hundred dollars. In doing so, nothing changes with your house ownership. Upon your demise, the house automatically transfers to the beneficiaries of your choosing, without incurring those crazy probate attorney’s fees. It’s easy, all you have to do is track down the legal description of your home, typically found on your Deed of Trust.

Call or email me if you have questions.

The information contained on this website is for the purpose of providing general background information and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney. Before you act or rely on information provided by this website, you should speak directly with an attorney. The law office of R. Scott Pecher, LLC disclaims all liability for actions taken or not taken based on the information on this site, including any email transmissions sent to or from the firm.

Access to or the use of this website does not create an attorney-client relationship between the law firm of R. Scott Pecher, LLC and the viewer. Sending or receiving information through this site does not establish an attorney-client relationship. The law office of R. Scott Pecher, LLC will establish an attorney-client relationship only by an express written agreement.

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