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Personal Finance (Not Investing) • Re: Basic inheritance questions

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The answer to your property question will depend on the state.

[. . .]
Some things you might be able to look up at your county's estate office website. If it's in writing there, it's probably correct.
Yes, this topic seems to be very state specific.

One thing you might want to narrow down is whether your state authorizes TOD deed, Lady Bird Deed, or neither:
Lady Bird deeds are currently only authorized in Florida, Michigan, Texas, Vermont, and West Virginia.
Approximately half of the U.S. states have what is called a transfer on death (TOD) or beneficiary deed, which is similar to, and may be preferable to, a Lady Bird deed. TOD deeds designate a beneficiary upon the grantor's death, in the same way a bank account can have a designated beneficiary. [Source]
However, knowing which approach is authorized in your state is still a separate question from whether it is a good fit to your specific circumstances.

Statistics: Posted by cas — Thu Jan 09, 2025 12:57 pm



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