Tag: inheritance planning
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New in New York: Transfer on Death Deeds
In July 2024, the brand-new Transfer on Death Deed Law went into effect in New York State. Residents are now free to create and record a transfer on death deed (also known as the TODD or TOD deed). If you know who you’re leaving your home to, and that person doesn’t already hold rights of…
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Understanding Life Estate Deeds: Benefits and Drawbacks
It’s possible to deed your property into a co-ownership with the person who will receive your home after your life. Perhaps you plan to leave your house to an adult child, or even a friend. A life estate deed is one option. It keeps you in your home for life. After your life, your home bypasses probate,…
