Beneficiary Deed Attorney Serving Chandler & Phoenix
Beneficiary deeds provide a way to transfer the ownership of Arizona property to a beneficiary if the owner dies. These types of deeds can have multiple beneficiaries and can pass the title two real property under Arizona law. Beneficiary deeds are not always the best solution for everyone and it is important to have your current situation evaluated by an experienced legal team before making any decisions.
If you need help establishing a beneficiary deed, our legal team is ready to help. When working with our law firm, you will have an experienced legal team with over 80+ years of combined probate and estate planning experience. Our goal is to take the stress off your shoulders and put it on ours. We offer a free consultation to analyze your case and determine how best to reach your goals.
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Should I Have A Beneficiary Deed?
A beneficiary deed is one component of an estate plan and is not the right solution for everyone. It is important to have your particular situation evaluated by an experienced estate planning attorney and to get their expertise on if a beneficiary deed is the right solution for you.
Those who tend to benefit from a beneficiary deed are those who:
- Are single or a couple is unmarried.
- If the couple agrees on designated beneficiaries..
- If you do not have a will and want to bypass Arizona’s Intestate Succession Laws.
Advantages & Disadvantages Of A Beneficiary Deed In Arizona
When evaluating if a beneficiary deed is the right fit for you, it is important to evaluate the advantages and disadvantages of this form of estate planning. When evaluating the advantages and disadvantages, it is also important to apply these to your particular situation to see if the fit is right for you. Some of the advantages and disadvantages are:
- This is a simpler form and is less expensive than setting up a trust.
- A beneficiary deed will only go into effect after the death of the owner.
- The owner can revoke the beneficiary deed or revise it at any point up until their death.
- The owner retains all rights of ownership which includes selling, developing and encumbering the property while alive.
- The transfer of ownership will occur outside of probate.
- Beneficiary deeds do not account for the potential incapacitation of the owner.
- Beneficiary deeds fail to account for unusual circumstances that may occur. They are not as flexible as a trust.
- Because of the lack of flexibility, a beneficiary deed eliminates many different planning options that other forms of estate planning allow for.
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Contact An Experienced Estate Planning Attorney
At the Golden Rule Law Group®, our team is dedicated to helping and representing you. You will have an experienced legal team who have over 80+ years of combined probate and estate planning experience. Our team takes pride in taking the stress off of your shoulders and putting it on ours.
Our firm primarily serves the areas of Chandler, Gilbert, Phoenix and other areas around Maricopa County. If you are in need of an experienced probate attorney in Arizona, please contact us today to schedule your free case evaluation.
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