Arizona now has a new type of property deed—a beneficiary deed.
A beneficiary deed is not a new form of ownership but rather, it provides for the transfer of property ownership to a beneficiary on the death of the current owner. A beneficiary deed can name any number of beneficiaries and can pass title to real property under any form recognized by Arizona law. Moreover, a beneficiary deed can contain a combination of multiple and successor beneficiaries, and can even be used to transfer property to a trust. In some circumstances, a beneficiary deed can be an effective means by which property can pass without a will or trust, and without the need for probate.
To inquire about a beneficiary deed for your family property, please contact the law office of Platt & Westby or call 623-239-4422 for a free initial consultation with a Phoenix estate planning attorney.