Greetings, I’m Oklahoma attorney Meg Prestidge and this is part of my series, the question that I get often asked is how can I avoid probate? And as I’ve discussed in the previous videos, the way I usually get phone calls is after you’re the one calling me, have watched someone go through what you deem to be a very contentious and long, drawn out, expensive probate of maybe your sibling or a friend.
So you decide to call and find out, are there any ways that I can avoid probate? And the answer is yes, you can possibly, and I do say possibly for many reasons. We discussed the joint tenancy warranty deed and in a previous email, I discussed, I mean email, video, I discussed, I discussed life estates.
Transfer on Death Deed
Today I want to discuss what’s known as a transfer on death deed and those are where you can name a grantee. So you would be the grantor, you’re the one that is creating this transfer on death deed. You’re known as the grantor and then you name the grantee. You can name one, two, again, as many as you wish. And then what you do is you file that of record.
The nice thing about a transfer on death deed is that you can cancel that at any time and you don’t even have to tell the grantees that, hey, I’ve left you with something at my death. You can change it at any time by just simply revoking that particular instrument of record. That is a beautiful instrument to use. A lot of people like it. I like it, especially if really all you own is your personal property, your home that you live in, and you want to ensure that your loved ones may not have to probate your estate.
Contact Me for More Information
And the reason I say may not, are there some things that your loved ones would have to do, or I say loved ones, could be friends, your loved ones would have to do at your death. And if you want to know about that, contact me at www.oklahomawillsandtrust.com.
Again, I’m Oklahoma Probate Attorney Meg Prestidge, and I look forward to hearing from you.