Mary Pat Troups is my newest hero. She is fighting for those of us who don’t want our children to spend a fortune to inherit what is rightfully theirs. What other lawyers have created, Mary Pat wants to undo. She is fighting for a simpler way to document who gets what after we die. It’s called a Revocable Transfer on Death (TOD).
The proposed “revocable transfer on death deed,” or TOD deed, is aimed at giving homeowners a simple, inexpensive and secure method of handing down property, rather than retaining lawyers to create trusts or guide heirs through the probate system. Elderly people and others with little disposable cash but relatively large accumulated equity in their homes are expected to capitalize most on the option.
LA Times http://www.latimes.com/classified/realestate/news/la-re-probate4nov04,0,863848.story?track=rss
What can we do? We can contact our state representatives and tell them we want what 9 other states already have – a reasonable way to transfer property to our heirs.
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