Legal Question in Real Estate Law in Massachusetts

Re: beneficiary on house deed

Very definitely, although it's not called a beneficiary.

The house can be passed from an owner to a survivor in a couple of ways involving the deed instead of a will.

Some of the top methods are ...

a) deed the house to a real estate trust which has provisions that take place upon death of the current owner(s), or else that allow the transfer during life over a period of years;

b) QPRT (qualified personal residence trust, defined by the IRS in order to minimize taxation);

c) deed designation of joint ownership with right of survivorship between the current owner and the party you have in mind as a beneficiary;

d) deed to a revocable living trust with beneficiary (ies) designated -- rarely done just like that, though;

e) split interest in property: owner retains a so-called "life estate" only and "beneficiary" becomes "remainderman" (gets the remainder interest, i.e., to own the house only after the death of the current owner).

Each of these has different implications for estate or gift taxes, for Medicare, and a few other things. Some are more useful than others for asset protection against creditors (or people who might file a lawsuit) of either the current owner or the 'beneficiary' during the current owner's lifetime. The best idea is to see a qualified real estate attorney and go over the options with him.

I can help you more if you like; call (617)527-0050 to discuss it further or, better, write me e-mail.