When you think about March, you think about leprechauns, green beer and transfer on death deeds. And for those of you who don’t know what a transfer on death deed is it’s a deed that, if executed and filed with the appropriate county prior to your death, transfers the real property indicated on the deed to one or more beneficiaries upon your death without the need for that real property to go through probate.
Minnesota transfer on death deeds are explained in full detail here: https://www.revisor.mn.gov/statutes/cite/507.071
You can get a free form here: https://www.cards.commerce.state.mn.us/CARDS/
If you’re in Wisconsin you’ll want to look at this instead: https://docs.legis.wisconsin.gov/statutes/statutes/705.pdf
Get your free form here: https://danedocs.countyofdane.com/PDF/regdeeds/App_3A-Designation_of_TOD_Beneficiary.pdf
Make sure the form you’re using is the most current form.
Once you execute and file the transfer on death deed you’ll want to reach out to your insurance company to ensure coverage is provided to your beneficiary in the event something catastrophic happens to your real property after your death and before the beneficiary is able to get insurance of their own. To read more about that click here: https://law.justia.com/cases/federal/district-courts/minnesota/mndce/0:2018cv02454/175661/57/
Now if all this seems too daunting and you want some help, reach out to Borman Law Firm today to help you with your estate planning needs. Happy March everybody!!