QUESTION

How do I transfer the tittle of my home to my daughter upon my death?

Asked on Sep 07th, 2014 on Estate Planning - Illinois
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2 ANSWERS

Commercial Attorney serving Chicago, IL at Ashcraft & Ashcraft, Ltd.
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In Illinois there are two ways to transfer title to real estate immediately upon death. Title to the real estate could be placed into joint tenancy with rights of survivorship by executing and recording a proper deed. Upon the death of one of the joint tenants the title to the property is held solely by the surviving joint tenant. If Joint Tenancy is used then during your lifetime your daughter would have an ownership interest in the property. An alternative is to execute and record a transfer on death instrument. Such an instrument must be a proper executed, witnessed and acknowledged deed; it must identify the transfer to a designated beneficiary that is to occur at the owner's death; and, it must be recorded with the county recorder of deeds before the owner's death. A transfer on death instrument is revocable by the owner. Of course, a Will or Trust could also be used to transfer ownership to a designated recipient but the transfers are not automatic on the death of the owner.
Answered on Sep 08th, 2014 at 1:06 PM

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There are many ways to accomplish what you want. From a deed with transfer on death provisions to a simple will to an revocable trust, all are possible ways to do what you want. You need to sit down with a professional to discuss the effects of each choice.
Answered on Sep 08th, 2014 at 9:11 AM

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