Why a Transfer on Death Deed might be a better fit for your family’s home.When planning for the future, many homeowners assume that writing a simple will is all it takes to pass down a home. But a will generally still has to go through probate after someone passes away. Court delays, legal fees, and administrative hurdles can make it harder for families to transfer a home and keep clear titles to the property. One option Indiana homeowners can consider is a Transfer on Death (TOD) Deed. Will vs. TOD: What’s the Difference? A Legal Will: Directs who should inherit your property, but the property generally must go through probate before the title can be transferred. A Transfer on Death (TOD) Deed: Names a beneficiary directly on a deed recorded with the county recorder. It can allow a home to transfer outside of probate while the homeowner retains control of the property during their lifetime. Why This Matters in Our Community Heirs’ property issues aren’t rare: they can directly affect family wealth and the ability to keep a home in the family. In Marion County alone, 1,410 confirmed heirs’ properties, valued at $194 million, and more than 3,100 at-risk homes, valued at $543 million, face these title challenges. Taking steps to understand your options now can help families avoid problems later. Want to Learn More? Our monthly Heirs’ Property 101 session takes a closer look at these legal tools and provides an opportunity to ask questions about deeds, estate planning, and protecting your home. Join us for the next session: Tuesday, October 13 at 5:30 PM EST Can’t make the session? You can also access our resources and tools anytime at housing4hoosiers.org Know someone who could benefit? Please feel free to share this free webinar with homeowners, families, or community members you support who may have questions about heirs’ property or protecting their home for future generations. |