When it comes to estate planning, one of the biggest goals for most people is avoiding probate. Probate can be a long, expensive, and public process, and for many families, it’s entirely avoidable with the right tools. Many assets such as bank or retirement accounts, or proceeds of life insurance can be left directly to a beneficiary on the account beneficiary designation. Upon death, the ownership or proceeds of those accounts simply and immediately transfer to a named beneficiary.

Traditionally, there was no simple way to name beneficiaries of real estate. Upon death, in order to transfer real estate, a court proceeding called probate would typically need to be opened, and the property would need to be transferred through the long, drawn-out probate process. Real estate is often the single biggest reason an estate ends up in probate.

Fortunately, a Revocable Transfer on Death Deed (TOD Deed) offers a simple and effective solution to this issue, by allowing you to list a transfer on death beneficiary or multiple beneficiaries directly on the property records of your home or other real property, allowing for an immediate transfer of the property, and avoiding probate.

What Is a Transfer on Death Deed?

A TOD Deed is a legal document that allows you to name one or more beneficiaries who will automatically inherit your real estate upon your death. This transfer happens outside of probate, ensuring that your property passes directly to your loved ones without court involvement.

Nebraska adopted the use of TOD Deeds in 2013, and New York followed suit in 2024. These laws provide homeowners with a powerful way to protect their families from the complications of probate while ensuring a smooth transfer of property.

Why Is a TOD Deed So Important?

For many estates, the family home is the primary asset that triggers probate. Without proper planning, this valuable property becomes subject to the time, cost, and potential disputes of the probate process. Here’s how a TOD Deed completely solves this issue:

1. Eliminating Probate for Your Home:

   • By using a TOD Deed, your home transfers directly to your named beneficiary upon your death, bypassing probate entirely. This ensures that your loved ones can take ownership quickly and without unnecessary legal hurdles.

2. Saving Time and Money:

   • Probate can take months or even years to resolve, and legal fees can quickly add up. A TOD Deed avoids these delays and expenses, making it a cost-effective solution for most homeowners.

3. Maintaining Privacy:

   • Probate is a public process, which means anyone can access details about your estate. A TOD Deed keeps the transfer of your property private, protecting your family’s personal and financial information.

4. Flexibility During Your Lifetime:

   • Unlike other estate planning tools, a TOD Deed allows you to retain full control of your property while you’re alive. You can sell, mortgage, or otherwise manage your home without needing approval from the named beneficiary.

Is a TOD Deed Right for You?

While a TOD Deed is an excellent tool for avoiding probate, it’s not a complete solution in certain situations. For example:

• If you have minor children, additional tools may be necessary, as a will would be needed to designate a guardian for their care.

• Further, a living trust allows you to designate how assets left to children can be managed for their benefit.

How We Can Help

At McNamara Law Firm, we specialize in crafting estate plans that prioritize simplicity, efficiency, and peace of mind. If avoiding probate is one of your goals, we can help you determine if a TOD Deed is the right choice for your estate plan.

Our comprehensive service includes drafting, executing, and recording the TOD Deed for a flat fee of $700. This ensures that your home—often your most valuable asset—passes seamlessly to your loved ones without the burden of probate.

Ready to learn more? Contact us today to schedule a consultation. Let us help you create a plan that protects your family, your assets, and your legacy.