
NEWSLETTER MAY 2018
TRANSFER ON DEATH DEEDS
How does the saying go? “There are different ways to skin a cat.” And that saying is applicable in avoiding probate. So here are a couple of estate planning tools you can utilize.
With respect to real estate there are Transfer-on-Death Deeds. The real estate remains in your name and you can do anything with the property that you could have done prior to executing such a deed. For a couple that owns their home jointly, upon the death of the first spouse, the real estate becomes the property of the survivor. The only thing that needs to be done upon the death of the first is to record the death certificate with the legal description of the property on the back to transfer the ownership to the surviving spouse. Upon the death of the surviving spouse, the death certificate needs to be recorded again with the legal description of the property on the back to transfer the ownership to the designated grantees on the deed.
You can do the same with Payable-on-Death Designations on your checking and savings accounts. All the banks have their individual forms. With respect to
designated beneficiaries, the banks usually require their name and address, social security number, date of birth, and their relationship to you. Upon the death of the last owner of the account, the proceeds will be paid to the designated beneficiaries. Before doing so, the bank will require that a certificate of death be presented.
And don’t forget motor vehicles. If you look at your title, you will notice that there is a light grey shaded area to designate transfer-on-death recipients. All you need to do is go to the tag office with your title, current registration and proof of automotive liability insurance coverage and they will assist you right there on the spot.
A word to the wise, obviously, you need to do this before you pass away, not after. So get it done and recorded; especially, the Transfer-On-Death Deed. And whatever you do, do not designate your estate as a beneficiary or recipient. If you do so, you just caused a probate.

The Disciplinary Counsel requires all lawyers notify recipients of e-mail that (1) e-mail communication is not a secure method of communication; (2) any e-mail that is sent between you and this office may be copied and held by various computers it passes through as it is transmitted; (3) persons not participating in our communications may intercept our communications by improperly accessing your computer or this office’s computer or even some computer unconnected to either of us that this e-mail passes through.
E-mail confidentiality and HIPPA Privacy Statement: This message and accompanying documents are covered by the Electronic Communications Privacy Act, 18 U.S.C. Secs, 2510-2521, and he Health Insurance Portability and Accountability Act, 42 U.S.C. Sec. 1320d, et seq., and contain information intended for the recipient, you are hereby notified that you have received this document in error and that any review, dissemination, copying, or the taking of any action based on the contents of this information is strictly prohibited and may be a criminal offense. If you have received this communication in error, please notify us immediately by E-mail, and delete the original message. Thank you.
Related
About Michael C. Brown
Michael C. Brown graduated from Wichita State University and went to law school at Oklahoma City University. He firsted practiced in Western Kansas but relocated home to the Wichita area in 1989. As a result of having to deal with long-term care involving his mother and other close relatives his eyes were open to the issues people have to face in helping their
Opening Hours
Call us any time. We can be reached during normal business hours at:
(316) 777-1186.
We can be also be reached
eMail: ElderLawKS@gmail.com,
Fax: (316) 777-1136
OPENING HOURS:
Mon - Thurs: 9AM - 5PM
Fridays: 9AM - 12PM
Saturdays & Sundays: Closed
Categories
- Conservatorship (9)
- Elder Law (23)
- Guardianship (9)
- Medicaid (12)
- Medicare (19)
- Probate (3)
- Uncategorized (3)
- Wills, Trusts, Estate Planning (17)