Many people are unnecessarily fearful of probate. It’s not that scary – give us a call and we will give you some peace about the process.
However, you may be able to avoid probate if you own a home but do not have many other assets. Here’s how-
- Transfer your home to your kids using a Transfer on Death Deed (a “TODD”). This is a great tool in some situations.
- Take care of your bank accounts by listing your kids as the POD (Payable On Death) beneficiaries.
You can sign a TODD and file it in the county where you live.
The TODD becomes effective upon your death and your children will become the owner of the house as soon as you pass away – no need for a probate.
If you get cold feet and change your mind – no problem; you can revoke it at any time.