Posts Tagged ‘Beneficiary Deeds’
Missouri Real Estate Titles – Adding a Family Member’s Name
George called my office this afternoon. His sister, Billie had been appointed as the Personal Representative of his mother’s estate a week ago. According to him Mom had a “simple will” leaving everything to her three children equally. He found out by word of mouth that Mom had “put Betty’s name on the title” (Betty…
Read MoreAnother Missouri Beneficiary Deed Failure
We’ve written and posted several times about the inherent dangers in relying on Beneficiary Deeds (also known as “Transfer on Death Deeds”) to transfer title in Missouri. Beneficiary Deeds, in the proper circumstances, present a very inexpensive and efficient method of transferring real estate upon death. The problem is the relative ease and low cost…
Read MoreA Missouri Beneficiary Deed that Failed
A good friend and client just became the victim of a poorly conceived Estate Plan involving a Missouri Beneficiary Deed. Fortunately I wasn’t the one who advised that be used. Unfortunately I wasn’t asked to, because I would have advised against it. My friend, Frank, and his sister, Karen, had been named beneficiaries on their…
Read MoreMissouri Beneficiary Deeds – When to Use Them
in Missouri, Beneficiary Deeds are a handy and valuable tool. Used properly, they transfer ownership of real estate instantly and automatically upon the death of the person or persons who created the deed, bypass probate, and they are relatively inexpensive. So — why doesn’t everybody use them all the time? The simple answer is — everything has…
Read MoreBeneficiary Deeds are not always the Best Choice in Missouri Estate Plans
This is a true, but sad story. Mom and Dad owned a farm in North Missouri. Mom and Dad have two basic goals when they go see their lawyer. First, they want to keep the farm “in the family”. Secondly, they want to do so as inexpensively as possible. They have their lawyer prepare prepare…
Read MoreBeneficiary Deeds in Missouri – a Quick Introduction
A Beneficiary Deed, also commonly called a Transfer on Death Deed, is an instrument that transfers title to real property on the death of the owner, or sometimes on the death of the last of several owners, such as husband and wife. They are available for use in Missouri, and many other states (but not…
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