Arizona Beneficiary Deeds Avoid Probate
In Arizona A Beneficiary Deed Can Be Used To Pass Property After Your Death To Whom Ever You Name
Arizona beneficiary deeds are governed by Arizona Revised Statutes Title 33 section 405. With a beneficiary deed property passes to your named beneficiary without involving the Arizona probate courts. Avoiding probate is usually accomplished with a revocable living trust but a beneficiary deed on your home (or any piece of real estate) can be used instead of a revocable living trust.
Beneficiary Deeds Have Some Pitfalls However
First, it must be recorded prior to your death in order to be valid. That means it is a public record and everyone will know who you are leaving the property to. Second, if you want to change the beneficiary and avoid probate in Arizona, you must create a new deed and record it. Including contingent beneficiaries on one deed becomes convoluted and can confuse the title record of your real estate. Planning for contingent beneficiaries and to avoid probate is much cleaner with a trust.
We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.
In Arizona A Beneficiary Deed Can Be Used To Pass Property After Your Death To Whom Ever You Name
Arizona beneficiary deeds are governed by Arizona Revised Statutes Title 33 section 405. With a beneficiary deed property passes to your named beneficiary without involving the Arizona probate courts. Avoiding probate is usually accomplished with a revocable living trust but a beneficiary deed on your home (or any piece of real estate) can be used instead of a revocable living trust.
Beneficiary Deeds Have Some Pitfalls However
First, it must be recorded prior to your death in order to be valid. That means it is a public record and everyone will know who you are leaving the property to. Second, if you want to change the beneficiary and avoid probate in Arizona, you must create a new deed and record it. Including contingent beneficiaries on one deed becomes convoluted and can confuse the title record of your real estate. Planning for contingent beneficiaries and to avoid probate is much cleaner with a trust.
We offer services for clients throughout Arizona, including Chandler, Gilbert, Sun Lakes, Tempe, Phoenix, Mesa, Scottsdale, and Apache Junction.
