Articles
My articles are intended to provide information that may be helpful to your situation and are for informational purposes only.
New York 2024 Law Change – NY Real Estate can now be a Transfer on Death (TOD) Asset
Effective July 19, 2024, New York Law now allows a real estate owner, including owners of a house, condominium unit or vacant land, to designate one or more beneficiaries to automatically receive the owner’s NY real estate when the owner dies, without the property having to go through probate.
Use of POD/TOD Accounts in Estate Planning
Many of my clients are surprised by how a Payable on Death (“POD”)/Transfer on Death (“TOD”) account (“Account”), which names beneficiaries to receive the funds upon an account holder’s death, can be very useful to their overall estate plan. However, care is needed to avoid any unwanted surprises when using such an Account.
For Informational Purposes Only; No Representations
Information on this website, including all released articles, has been prepared for general and informational purposes only. It is not meant to provide legal advice with respect to any specific matter and should not be acted upon without professional counsel. Law Offices of Gideon T.J. Alpert, LLC does not guarantee its accuracy or completeness or suitability as well as takes no responsibility and makes no warranty whatsoever for the content or information contained herein.