Beneficiary Deeds in Missouri
A beneficiary deed allows for property to transfer on death (TOD) without going through probate.
The beneficiary deed only goes into effect upon death of the owner, therefore it does not actually transfer property until the owner’s death and therefore it does notpreclude transfer before death. In other words, if an owner executes a beneficiary deed and then decides to sell the property, that it is not a problem.
The Missouri Bar provides an overview of Estate Planning methods and tools, including beneficiary deeds (sample Beneficiary Deed on page 14).
Nolo offers a Missouri Transfer-On-Death (Beneficiary Deed) available for purchase on their site:
Missouri Transfer-on-Death (Beneficiary) Deed – Legal Formhttp://www.nolo.com/products/missouri-transfer-on-death-beneficiary-deed-pr214.htmlUse this form to avoid probate and retain ownership, responsibility, and control over your Missouri property while you’re alive. In the event of your death, ownership will automatically…
You can also view the applicable Missouri Statues here:
CHAPTER 461http://www.moga.mo.gov/statutes/chapters/chap461.htm461.025. 1. A deed that conveys an interest in real property to a grantee designated by the owner, that expressly states that the deed is not to take effect until the death of the owner, transfers the interest provided to the designated grantee beneficiary, effective on death of the owner, if the deed is executed and filed of record with the recorder of deeds in the city or county or counties in which the real property is situated prior to the death of the owner. A beneficiary deed need not be supported by consideration or be delivered to the grantee beneficiary. A beneficiary deed may be used to transfer an interest in real property to a trust estate, regardless of such trust’s revocability.
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