The Power of the Beneficiary Deed

Recently I took questions from two different clients concerning end-of-life planning, and specifically how it relates to the transfer of Real Estate. In the first case, a taxpayer's parent was on their deathbed, and they were contemplating preparing a quit-claim deed to transfer property into the name of the taxpayer in contemplation of death in order to avoid probate. In the second case, the taxpayer's parent had a proper trust which was being used to divide the parent's property amongst children from different families.  The parent, however, wanted their home to go directly, and in an undivided fashion, to the [...]