Legal Question in Wills and Trusts in Ohio
I have my homes in a TOD, Transfer on death deed and the other one Surviorship Deed. My bank accounts all have payable on death or beneficaries. Also my car has an affidivat to transfer on death. My question is do I still need a will?
1 Answer from Attorneys
All the things you have done are great to avoid probate upon your death, however, it is always a good idea to have a will to deal with any assets that you may have forgotten about or end up going through probate by default. For example, if the person you have designated as TOD on your home passes away before you or disclaims the home for whatever reason, the home would pass through probate. Your will could list the beneficiares of your assets and desigate the executor of your estate and how you would like your estate distributed. It is fairly inexpensive to have a simple will drawn up and executed and is well worth the money. If you need further information, please feel free to contact my office at http://www.socrateslegal.com .
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