The massive benefits of a Transfer on Death Deed

[@RealHendrixFamily]

Thank you Ernie!

[@LandlordAttorney]

Thanks for watching.

[@lindaluna1601]

Great info!

[@LandlordAttorney]

@@lindaluna1601 Thanks

[@CJSPROPERTIES]

Hi! Thank you, I've learned so much from your fb and videos. Two Questions - 1. if title is in husband's name and wife's name and only 1 dies, does the TODD only transfer 50%? 2. If title only has husband's name and the TODD transfers to 2 children - then each child owns 50% at death of Dad? Wasn't sure with Texas community property rules

[@LandlordAttorney]

@CJSPROPERTIES 1. Yes, 50% ownership transfers upon the death of one owner. The remaining owner's portion is unchanged by this.

[@LandlordAttorney]

@CJSPROPERTIES 2. The new beneficiaries simply take the place formerly held by the deceased dad. Each child owns 25%, and mom keeps her 50% share.

[@irinabenskaya5499]

Hello Ernie!
Is better to make trust to transfer property to my kids or TODDeed that you explained in this video?
Thanks you!

[@LandlordAttorney]

@irinabenskaya5499 That depends on a few factors. A TODD transfers title outright to one or more people. At that point, those individuals can use the property as they wish. However, a trust puts property in the hands of a trustee to use property within certain limits for the benefit of one or more. A trustee might be better if the beneficiaries might be unable or unwilling to make good decisions (like minor children or people who lack capacity or experience).