Beneficiary Deeds Lawyer Missouri

The use of a beneficiary deed is one way to avoid probate with your home, which for most people is the largest asset they own.

A beneficiary deed transfers ownership in a residence, subject to any mortgages and liens. to the grantee beneficiaries of your choosing. If you and your spouse want your two grown children to inherit your home at your passing, and to do so without having to go through probate, a beneficiary deed is a perfect way to do so.

Your named beneficiaries take ownership of the home instantaneously upon the passing of the last owner of the home. No other documents usually need to be filed.

There is no consideration needed to pass property under a beneficiary deed, but unlike other deeds, they must be filed prior to death in order to be valid. The proper place to file is in the Office of the Recorder of Deeds in the county in which the property is located.

Beneficiary deeds can be revoked or changed at any time by recording (filing) making whatever changes you desire.

If you sell the home to a third party, the beneficiary deed is void and does not act as a cloud on title to delay the sale. Beneficiary deeds can also be used for second homes and unimproved property throughout the state.

For those creating trusts, depending on their distribution scheme, it’s common for the beneficiaries named in the recorded deed to be the trustees and successor trustees of the trust. power of attorney and relatives. If you are hospitalized, a copy should go into your medical records.

Missouri is one of a handful of states in the country which allow the creation and recording of beneficiary deeds and they have become an important and convenient estate planning tool for clients.

Contact the beneficiary deeds lawyer at Legacy Law Center for more information.

Making Sure Your Last Wishes are Honored

Your home is your greatest asset, and a legal specialist with a background in beneficiary deeds can help you ensure your final wishes are respected when it’s time to hand the deed over to a loved one. When you create a beneficiary deed with the help of the team at Legacy Law Center, you’re taking an important step towards ensuring a better future for your family.

But what will your family have to deal with if you fail to create a beneficiary deed? Read on to learn more about what happens if you die without an estate plan, and see how Legacy Law Center can help you spare your friends and family any undue pain and suffering.

If you don’t make a will, the state will appoint an executor.

An executor is the person you trust to handle the contents and procedures outlined in your will. It should be someone you trust, and someone you know will honor your last wishes when it comes to granting or bequeathing any property (such as homes) to your beneficiaries. Unfortunately, if the state has to appoint an executor, their choice may not be ideal.

Sometimes the state-appointed executor has his or her own interests in mind.

When the state chooses an executor, it pulls from a limited pool of people who you knew during your lifetime. This can mean parents or adult children, but it can also mean spouses – or ex-spouses. Unfortunately, without naming an executor, there’s a chance that a vindictive ex may have legal claim to swoop in and undermine your last wishes.

An executor doesn’t have to always follow the rules.

Unfortunately, if an executor is in place, he or she is able to bend the rules and deviate from the requests in your will. In some cases, this is actually a necessity. There may be some ambiguity, or other unclear inclusions in your will that just don’t make sense or may not be possible. But in other cases, it’s perfectly believable that an executor disregards your last requests to take a bigger slice of your pie.

Your beneficiaries can petition the court to have the executor removed.

It’s a legal hassle, and an estate planning lawyer may have to be called in to walk your beneficiaries through the process, but it’s possible to have the state-appointed executor removed. This may lead to a complicated and frustrating legal battle, but if you didn’t create a beneficiary deed, it may be the only way for your loved ones to gain ownership of your home.

The right lawyer can make all the difference.

When you’re planning for your future, you need all the legal help possible to make sure your assets don’t end up in the wrong hands. Whether you’re trying to ensure the future of collections, heirlooms, investments, or real estate, you should always get in touch with a qualified estate planning attorney.

Get in Touch with Us Today

At Legacy Law Center, we’re ready to help you prepare for the future. Get in touch with us today, and see how our beneficiary deeds specialist can ensure a better tomorrow for your loved ones.