Transfer on Death Deed Replaced: Since 2000, Ohio law has allowed property owners to avoid the probate process with a transfer on death deed, a deed that automatically transfers real property to a designated beneficiary upon the death of the property owner. Under a new Ohio law, such transfers now require the preparation of an affidavit rather than a transfer on death deed.
The new law also allows those who hold "survivorship rights" in property to transfer their rights upon death, which the previous law prohibited. This change can facilitate effective contingent beneficiary planning previously only available through the use of more involved estate planning strategies. The Ohio State Bar Association's Real Property Law Section proposed the changes to simplify the transfer on death process and remove confusion over the rights of those holding survivorship deeds.
Should everyone have a Trust? There is a significant amount of misinformation that regularly circulates, particularly amongst our senior population.
The new law also allows those who hold "survivorship rights" in property to transfer their rights upon death, which the previous law prohibited. This change can facilitate effective contingent beneficiary planning previously only available through the use of more involved estate planning strategies. The Ohio State Bar Association's Real Property Law Section proposed the changes to simplify the transfer on death process and remove confusion over the rights of those holding survivorship deeds.
Should everyone have a Trust? There is a significant amount of misinformation that regularly circulates, particularly amongst our senior population.
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Filing Fees, if required, are an extra cost and will be quoted at time of service based upon prevailing rates.
Non-standard services require an understanding of your specific needs.
Generally, a fixed fee can be quoted prior to engagement.
An alternative fee arrangement may be required.
Fee agreement and approval is required prior to commencement of services non standard services and may be based upon current hourly rate fee structure.
Fees for legal services not listed will be discussed prior to engagement and fee agreement prepared.
Non-standard services require an understanding of your specific needs.
Generally, a fixed fee can be quoted prior to engagement.
An alternative fee arrangement may be required.
Fee agreement and approval is required prior to commencement of services non standard services and may be based upon current hourly rate fee structure.
Fees for legal services not listed will be discussed prior to engagement and fee agreement prepared.
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