Simplify Your Estate Plans with Nevada Transfer on Death Deed TOD

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Its important to understand that if you name more than one beneficiary on a TOD account, all of the beneficiaries become co-owners of the account as tenants in common when you die. Because they all now own the account assets together, they all have to agree on decisions regarding those assets.
Transfer on Death (TOD) deeds are legal instruments that allow individuals to transfer real property to designated beneficiaries upon their death without the need for probate. In Nevada, TOD deeds are a viable option for estate planning, but there are drawbacks.
The Revocable Transfer on Death Deed, also called TOD Deed or beneficiary deed, is a simple way to leave a residence to your beneficiaries without the need for probate.
TOD Deeds Open the Door to Unintended Consequences Without careful coordination, TOD deeds can also disinherit heirs you intended to provide for, result in unnecessary taxes, complicate matters for a surviving spouse, or cause other negative ripple effects. Once recorded, the deed is very difficult to undo.