1 / 5

Virginia transfer on death deed: Unique tool for avoiding Probate

Ferris Law, led by Richard Ferris with almost three decades of experience in the courts of Virginia can guide you extensively on Virginia Transfer on Death Deed. https://www.richmondlawyer.com/services-virginia-transfer-on-death-deed

Richmond_Lawyer
Download Presentation

Virginia transfer on death deed: Unique tool for avoiding Probate

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Virginia transfer on death deed: Unique tool for avoiding Probate If you live in Virginia and own real estate, you have a unique tool at your disposal to avoid your estate going into probate. Virginia Transfer on Death Deed is a type of deed that names one or more beneficiaries to inherit your property upon the owner’s death. It is a cost-effective tool for many. A TODD avoids probate by automatically designating who will inherit the property upon the death of the current owner, regardless of whether or not there is a will. Ferris Law, led by Richard Ferris with almost three decades of experience in the courts of Virginia can guide you extensively on Virginia Transfer on Death Deed. Virginia transfer on death deed

  2. Why Choose US Virginia Transfer on Death Deed (TODD) • A practical estate planning tool for homeowners in Virginia. • Avoids probate and simplifies inheritance of real property. • Identifies beneficiaries to inherit real estate at death. • Functions like a beneficiary designation for life insurance policies. • Modify or revoke by filing a new TODD Virginia transfer on death deed

  3. Advantages of TODD • Transfers ownership automatically to beneficiaries. • Prevents delays and reduces estate costs. • Fully revocable any moment by the property owner. • Takes effect only after the owner’s death. • Can sell, mortgage, or use the property as collateral while living. Virginia transfer on death deed

  4. Using TODD with Multiple Beneficiaries • Names multiple beneficiaries at minimal expense. • For complex ownership distribution, a trust may be preferable. • Requirements for a Valid TODD • Must adhere to Virginia law standards. • Dated, signed by owner, and notarized. • Must be recorded in the land records in the circuit court. Virginia transfer on death deed

  5. Contact info: • Phone: (804) 767-1800 • Email:info@richmondlawyer.com • Address: Fountain Park, Building 79327, Midlothian Turnpike Suite 1J, Richmond VA 23225 Virginia transfer on death deed

More Related