Transfer On Death Form

[irvineboy]

What is the name of your state (only U.S. law)? CA


I read about a free transfer on death (TOD) for the state of CA

http://www.sfchronicle.com/business/networth/article/Californians-have-a-new-way-to-keep-homes-out-of-6620601.php

He talked to the county and they did not have one but pointed me here where there are 2 TODs. What is the difference?
He wants to name beneficiaries upon death.

http://saclaw.org/legal-forms/

TOD Deed : Revocation
https://saclaw.org/wp-content/upload...n-TOD-deed.pdf
TOD Deed
https://saclaw.org/wp-content/uploads/form-TOD-deed.pdf

 

[FlyingRon]

Gosh darn it, why can't you understand the basic request to keep your stuff in one thread?

Do you understand what the term "revocation" means? The first form is to revoke a TOD designation.
The second actually makes the designation.

That is, plainly, you fill out the second one to set up the TOD. If something changes and you want to cancel it, you use the first form.

Again, while TOD will avoid some probate proceedings, it doesn't change the tax issues.

 

[irvineboy]

What would happen if one of two the beneficiaries die? Can you leave them both on or do you have to fill out a revocation and only designate the living beneficiary???

 

[FlyingRon]

What would happen if one of two the beneficiaries die? Can you leave them both on or do you have to fill out a revocation and only designate the living beneficiary???

If a beneficiary dies, he's disregarded on the TOD.

Let's say you name A, B, and C as beneficiaries. If they all are living, they all get 1/3 of the property on your death.
If A is dead at the time of your death, B and C each get half. Specifically, A's descendants and heirs don't get any rights to your property.

Again, you can revoke the TOD designation at any time before YOU die and optionally create a new one.

 

[STEPHAN]

Again, you can revoke the TOD designation at any time before YOU die ...

Doing it AFTER you die is unlike harder ...

 

[FlyingRon]

Doing it AFTER you die is unlike harder ...

Hey, that's what the California statute says. I suspect they meant it has to be filed before you die (I.e., you fill out the form and don't record it before you die, you're out of luck on the changes).