QUESTION

I need info on beneficiary deeds

Asked on Jul 01st, 2023 on Wills and Probate - Arizona
More details to this question:
I need to change it. has multiple beneficiaries and need info for a minor
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1 ANSWER

Estate Planning Attorney serving Phoenix, AZ
4 Awards
Using beneficiary deeds as a substitute for a will or a trust is not efficient although it may seem so when you do it. With one or two beneficiaries, such a deed might be a good way to pass property. Maybe. With multiple beneficiaries, there is a strong possibility of conflicts between ownerships and what to do with the property. The fact that there is an infant involved creates a bigger potential problem. Whatever money you believe you are saving by using a beneficiary deeds may be lost upon your death. My recommendation is that you contact an estate planning attorney an have a proper estate plan created, whether it is will based or trust based. An attorney can explain the benefits of each.
Answered on Jul 03rd, 2023 at 9:02 AM

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