How can I transfer real estate without probate?

Transferring real estate without probate is possible in New York. When a person dies, probate is the legal process of distributing the deceased person’s assets, including real estate. Generally, this involves the court system, which can be time consuming and expensive. To avoid probate, the owner of the real estate can use estate planning to transfer the property before death. One way to transfer real estate without probate is through a transfer-on-death (TOD) deed. A TOD deed is a special kind of deed that designates who should receive the real estate upon the owner’s death. The owner of the property can change the deed easily, without going through the court system. The owner can also give the real estate to someone else during their lifetime, as long as the deed is changed to reflect the new owner. Another way to transfer real estate without probate is through a living trust. With a living trust, the owner of the real estate can place the property in the trust while they are still alive. The trust document should name a beneficiary who will receive the property upon the owner’s death. Living trusts are more complex than transfers-on-death deed and require the help of an estate planning attorney. Finally, real estate can also be transferred without probate through joint tenancy with rights of survivorship. With this type of ownership, both owners own the real estate equally and if one owner dies, the surviving owner automatically inherits the real estate without the need for probate. In summary, transferring real estate without probate is possible in New York by using estate planning tools such as transfer-on-death deeds, living trusts, and joint tenancy with rights of survivorship.

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How can I transfer real estate without probate?

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