01/08/2025
Did you know you can now transfer your property to loved ones without the hassle of probate?
In Maine, the Transfer on Death Deed (TODD) allows homeowners to designate a beneficiary who will inherit your property automatically upon your passing, without the lengthy probate process AND help protect it from creditors.
✅ How it works:
You remain the owner of the property while you're alive.
You can change or revoke the deed anytime.
After your death, the property goes directly to your chosen beneficiary.
It’s an easy and efficient way to ensure your loved ones inherit your property, without unnecessary delays. However, it’s important to consult with a real estate or estate planning attorney to ensure it's done correctly!
💡 Tip: TODDs can only be used for real estate – so other assets will still require traditional estate planning.
For more information on how to create a TODD in Maine, reach out to Ring Law Firm today and set up a consultation. 207-368-6234
