What is a Beneficiary Deed?
A beneficiary deed is an instrument an individual may use to transfer Arkansas property outside of probate. A beneficiary deed is a relatively inexpensive alternative to expensive estate planning and allows for property to be automatically transferred upon your death. A beneficiary deed is often preferred over a will or trust for transferring property.
A beneficiary deed is not effective until it has been recorded in the County Recorder’s office. A beneficiary deed is unique in that the property does not transfer until death. Therefore, the beneficiaries have no ownership interest during the owner’s lifetime. This allows the owner to revoke the deed any time prior to the owner’s death.
To determine whether or not a beneficiary deed is right for you please call our office at 479-795-1711.