Beneficiary Deeds Lawyers in Estate Planning
If you own a home or land in Arkansas, you have probably wondered what will happen to it when you’re no longer here. Who will take care of it? Will it go to the right person? Will your loved ones have to deal with a long, stressful court process?
A beneficiary deed (also called a transfer-on-death deed) can help you answer those questions with confidence. With this estate planning tool, you keep complete control while you’re alive and your loved ones get a headache-free inheritance when the time comes.
At Arkansas Legacy Planning, we make the process of creating a beneficiary deed easy to understand and even easier to complete. If you’re curious about whether a beneficiary deed might be right for you, let’s talk. A short conversation now can give you and your loved ones a lifetime of peace of mind.
Creating and Recording a Beneficiary Deed
A beneficiary deed is a legal document that lets you name someone to inherit your real estate automatically when you pass away. The key benefit? It allows that transfer to happen outside of probate.
Under Arkansas Code § 18-12-608, property owners can create a deed that names one or more beneficiaries to receive the property upon death. Until then, you keep full control—you can sell the property, refinance it, or even revoke the deed entirely.
To make the deed valid, it must:
- Be in writing;
- Clearly identify the property and beneficiary; and
- Be signed, notarized, and recorded with the county clerk in the county where the property is located.
If the deed isn’t properly recorded before your death, it won’t be legally binding. Not sure how? Consider working with an experienced lawyer.
Benefits of Beneficiary Deeds
Beneficiary deeds are popular for a reason. They offer several unique advantages, especially for individuals looking to simplify their estate planning. Here are some of the benefits:
- Say goodbye to probate: Nobody wants their family stuck in court for months or years after they’re gone. With a beneficiary deed, your property zooms straight to your loved ones without waiting, extra court costs, and headaches.
- You stay in charge: Here’s what most of our clients love about these deeds. Unlike adding someone’s name to your deed now, you keep 100% control of your property. Want to sell it next year? Go for it. Need to refinance? No problem.
- Easier than you think: If you’ve looked into trusts and felt overwhelmed, you will appreciate how much simpler a beneficiary deed is. Less paperwork, lower cost, but still gets the job done.
- Keeps your business private: Did you know those time-consuming probate proceedings are public? That means anyone can see what you owned and who got what. Beneficiary deeds keep your family business just that—your family’s business.
- Sleep better tonight: There’s something deeply comforting about knowing you’ve taken care of the big things.
If you’re looking for a simple way to protect your family while honoring your wishes, a beneficiary deed may be one of the smartest choices you make. And when you’re ready, Arkansas Legacy Planning is here to help you make it happen.
Naming Beneficiaries and Updating Beneficiary Designations
Choosing who receives your property is a deeply personal decision, and Arkansas law gives you a lot of flexibility. You can name:
- One person or multiple individuals (e.g., your spouse)
- A trust
- A charity or nonprofit
- Contingent beneficiaries (in case your first choice passes before you do)
You should also keep your beneficiary deed up to date. If circumstances change (e.g., a divorce, marriage, or the passing of a beneficiary), you may need to create a new deed with new essential information. Remember, the most recently recorded beneficiary deed is the one that takes effect.
How Beneficiary Deeds Work with Other Estate Planning Tools
Beneficiary deeds are powerful, but they are often just one part of a well-rounded estate plan. Here’s how they can work alongside other tools like:
- Wills: A will can cover the rest of your assets and appoint guardians or executors. But keep in mind—a valid beneficiary deed overrides your will when it comes to real estate.
- Trusts: If you have complex assets, minor children, or want to manage how and when property is distributed, a trust may be a better fit or can be used alongside a beneficiary deed.
- Powers of attorney: These are about who makes decisions while you’re still alive but unable to speak for yourself. Think of them as the “during life” companions to your “after death” beneficiary deed.
At Arkansas Legacy Planning, we take a big-picture view. We will help you decide how a beneficiary deed fits into your overall estate plan, ensuring every piece works together to achieve your goals.
Frequently Asked Questions
It depends on your goals. A beneficiary deed allows real estate to pass directly to your chosen heirs without going through the probate process, which a will cannot do. But you don’t have to choose just one. Many people use both for a complete estate plan.
Yes. If there’s a conflict between your will and a properly recorded beneficiary deed, Arkansas law honors the deed. That’s why it’s important to keep both documents updated and consistent.
You might want to work with an estate planning attorney to draft the deed, then sign it in front of a notary and record it at the county recorder’s office where the property is located. Our team at Arkansas Legacy Planning handles all of this for you.
Yes. One of the main advantages of a beneficiary deed is that it transfers ownership of the property outside of probate, saving your heirs time, legal fees, and stress.
Absolutely. As long as you’re mentally competent, you can revoke or change your beneficiary deed at any time by recording a new one or filing a revocation. After all, a beneficiary deed doesn’t change the fact that you’re the rightful owner of your property.
Contact Us Today
At Arkansas Legacy Planning, we are experienced attorneys and also parents, children, and homeowners just like you. We understand what’s at stake, and we promise to treat your family’s future with the same care we would our own.
Don’t let another day go by with this important protection missing from your family’s future. Reach out today to discuss if a beneficiary deed is right for your estate planning needs.
Contact Us
Feeling lost or worried about your future? Our team at Arkansas Legacy Planning is here to provide personalized support for all your estate planning needs. Contact us today so we can start working on a clear, tailored strategy designed specifically to safeguard what matters most to you.
