Revocable Transfer on Death Deeds ("TOD Deed")
A new law that became effective January 1, 2016, created a Revocable Transfer on Death Deed (“TOD Deed”) as a way for California residents to transfer residential property to named beneficiaries, effective upon death. The purpose of the TOD Deed is to allow seniors and individuals whose estates consist primarily of a home, to transfer that home upon death while avoiding costly probate and/or trust administration.
Like most simple and inexpensive legal strategies, there are advantages and a lot of disadvantages to the TOD Deed. Read CANHR’s Fact Sheet: Transferring Your Home through a Transfer on Death Deed (TOD) - What You Need to Know
There have been major positive changes to the Medi-Cal Recovery laws that will be effective for those individuals who die on or after January 1, 2017. For individuals who pass away after this date, real property transferred via TOD Deed will NOT be subject to a Medi-Cal Recovery claim.