Transfer on death deed versus a revocable trust

5 Feb 2024 · 1 min

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1:01

Jerry Taylor explains why a beneficiary deed doesn't work like a revocable trust. States fall into three categories: those with no beneficiary deed law (Alabama, Florida, Georgia), those allowing transfer-on-death deeds (Mississippi), and those permitting Lady Bird deeds (Tennessee recently adopted one). The rules vary enough that a deed alone may not accomplish what a trust does.

Chapters

Does a beneficiary deed accomplish the same thing as putting your home into a revocable trust? The answer to that is no, although there are a lot of qualifications that go along with this subject. Generally, for each state in the United States, you know, this falls into one of three categories. Either your state does not have any kind of law that support beneficiary deeds. And in most states, this is called transfer on death. In a few states, it's called Lady Bird deeds. For instance, here in Alabama, we have no law that supports beneficiary deeds. There are, I believe, 29 states that have laws that support transfer on death deeds, but Alabama does not have one. Florida does not have one. Um, I think Georgia does not have one. Mississippi does have one, and I think Tennessee, at least recently,