Legal Question in Wills and Trusts in Ohio
title to a home
My husband has a terminal illness and the title is a survivorship deed do i still need a TOD? to prevent a probate issue i was told I do by my financial advisor but title co. said no. Which is true?
3 Answers from Attorneys
Re: title to a home
I'm sorry to hear about your husband. With the survivorship deed, you will take a death certificate and an affidavit and file it in the Recorders Office to transfer the property into your name. You do not need a TOD deed. It is still outside of Probate with a survivorship deed. Also, make sure all the bank accounts, life insurance, IRA's, etc. all have a named beneficiary. Make sure any auto is TOD or in your name. You can opt two autos up to forty thousand from Probate proceedings but the TOD title is easier.
Re: title to a home
Your title company is correct. You do not need Probate Court to transfer the property into your name. However, after your husband passes away, you will need to record a survivorship deed and places the property solely in your name.
Re: title to a home
The property will pass to you on your husband's death outside of probate with your survivorship deed. You will not need a TOD now but may want to have one after your husband's death if probate avoidance is important in planning for your estate.
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