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TOD deed Tag

CALIFORNIA TRANSFER ON DEATH DEEDS: The Good, the Bad and the Ugly

Photo of a Home

Sarah Spenless is an elderly widow with just one asset holding value: her home, which is worth $500,000. She would like her three children to inherit the home. She doesn’t want to spend the money to create a living trust, and she doesn’t want her children to have to go through a probate proceeding. With situations like hers in mind, the California legislature ushered in a new way to pass property to a beneficiary upon death: the California Transfer on Death Deed (“TOD deed”). Assembly Bill 139, effective January 1, 2016, was hailed by lawmakers as a way to avoid...

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