The Texas Transfer on Death Deed

Can I Use a Transfer on Death Deed to Transfer My Car Without Probate?

The Texas Transfer on Death Deed allows owners of real estate to transfer their property to beneficiaries outside the probate process. The Deed works like a beneficiary designation on an insurance policy or retirement plan. It allows you to name a beneficiary who will inherit your real property after you die. The fact that thereRead More

Does Property Passed by Transfer on Death Deed Receive a Step-Up in Basis?

When someone receives a gift, the recipient of the gift is not responsible for reporting the value of any gifts as income. Rather, it is the gift-giver, or donor of the property, who is required to pay gift taxes if the value of the gift exceeds the annual gift tax exclusion. Taxes become an issueRead More

Will Property Transferred by Texas Transfer on Death Deed be Subject to Medicaid Estate Recovery?

Following the death of someone receiving Medicaid benefits, Medicaid has the power to recoup from his or her estate funds expended by Medicaid for that individual’s benefit. Several individuals have contacted me recently wondering whether property transferred with a Texas Transfer on Death Deed is subject to the Medicaid Estate Recovery Program (MERP). Under currentRead More

What Happens if I Divorce After Naming My Spouse as a Transfer on Death Deed Beneficiary?

The Texas transfer on death deed is a document that allows homeowners to transfer property to their heirs outside of probate. Most couples who own property jointly in Texas own the property as tenants in common. If property is owned as tenants in common and one of the owners dies, the other owner will notRead More

What Happens if the Beneficiary of my Transfer on Death Deed Dies Before Me?

The Texas Transfer on Death Deed, allows homeowners to name a beneficiary who will inherit their property after they die. It works like a beneficiary designation on a bank account or an insurance policy. If a beneficiary is named, the property will pass to the beneficiary outside the probate process. But what happens if theRead More

The Texas Transfer on Death Deed

Effective September 1, 2015, Texas will join the growing number of states that allow owners of real estate to transfer property to their beneficiaries outside the probate process by creating a Texas Transfer on Death Deed. The deed works like a beneficiary designation on a retirement plan or an insurance policy. It allows you toRead More