In 2014, Washington joined more than 20 states and D.C. in authorizing Transfer on Death Deeds ("TODDs"). A TODD offers a non-probate method of transferring an interest in real estate to one or more beneficiaries at the death of the property owner and thus can be a useful estate planning tool for those seeking to avoid probate. A TODD does not transfer any interest in the property until the owner's death and is fully revocable during the owner's lifetime as long as the owner has testamentary capacity. The TODD must: (1) contain the essential elements and formalities of a properly recordable deed; (2) state that the transfer to the designated beneficiary is to occur at the transferor's death; and (3) be recorded before the transferor's death in the public records in the office of the auditor of the county where the property is located.
If you have questions about Transfer on Death Deeds or other probate avoidance or estate planning techniques, give us a call at 253.858.5434 to see how we can help.