Estate Planning and Probate Attorney Sarah Siedentopf talks about beneficiary deeds. #estateplanning #beneficiarydeeds
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Siedentopf Law focuses on helping people in the Atlanta, Georgia area plan their estates and wills, probate estates of family members, and work through probate disputes. We strive to make estate planning and probate as easy as possible, providing a concierge experience through traditional office visits, video conferencing, and visits to hospitals and assisted living centers for those who cannot drive themselves.

Contact: Sarah@estatelawatlanta.com, (404) 736-6066.
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Address: 2801 Buford Hwy NE, Suite 510, Atlanta, Georgia, 30329

Contact through this website or via email does not create an attorney-client relationship. Our firm will not represent you until the terms of our representation are discussed, mutually agreed upon, and memorialized in writing. All law referred to on these videos is Georgia law.

Video Transcript:
- Hi, I'm attorney Sarah Siedentopf. I'm an estate planning and probate attorney in Atlanta, Georgia. Today we're going to discuss understanding beneficiary deeds. And of course, the first question is what is a beneficiary deed? A beneficiary deed is a broad category of deed that is basically a gift deed of some kind. So it does not cover the standard sale of a property. If I pay you for the property, that is not a beneficiary deed, but this could be a term used for basically any type of gifting. And the first very important thing to understand about a common type of beneficiary deed, that is the transfer on death deed, is that here in Georgia, we do not have a transfer on death deed. So if you were to go online and create one for yourself, print one out from somewhere, it would not be effective. We are not transferring anything on death. That is not a thing in Georgia. So no transfer on death deeds, but other types of beneficiary deeds, this could be a estate deed. So once someone has passed away, the executor of their estate needs to do a deed transferring the house to the beneficiaries. That is a beneficiary deed. What we end up with is either a single person or multiple people who own the property together and have to work out, you know, how are they paying taxes and what are they doing with the property. So that's one type of possible beneficiary deed. A standard deed of gift is another type. So if I decide to give a property to my child, that could be a beneficiary deed if it's a gift as opposed to a sale. Another type of beneficiary deed is a life estate deed. So in that situation, I am saying I get to keep this property as long as I am alive, but once I've passed away, it's yours. It's different than the transfer on death deed in the sense that I am only maintaining the right to live in the property during my lifetime. It is yours right away but you can't take it away from me until I'm gone. So it's a subtle distinction, but a distinction nonetheless. But these are different types of beneficiary deeds. And if you've got questions about a beneficiary deed, whether somebody's asking you to sign something or you think you need to do one, please give me a call. I would love to talk to you and please like or comment. Thanks.

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