PART SIX: BENEFICIARY DEEDS

Several years ago, the State of Arizona created a beneficiary deed ownership. Under a beneficiary deed, the owner of the property remains the owner of the property, and a designated beneficiary will only take the property upon the death of an owner. The beneficiary named in the deed does not have a present right or interest in the property, but only a future expectancy. Indeed, a beneficiary deed may name one or more beneficiaries to succeed an owner and could specify that if one beneficiary dies before the original owner, the beneficiary’s interest will go instead to the children or the deceased beneficiary. Property passing to the beneficiary under the beneficiary deed is considered a non-probate transfer and likewise, passes outside of the will.

EXAMPLE: I, John Doe (owner), hereby convey to Jane Doe (grantee beneficiary) effective on my death the following described real property:

(legal description).

If a grantee beneficiary predeceases the owner, the conveyance to that grantee beneficiary shall either (choose one):

( ) become null and void

( ) become part of the estate of the grantee beneficiary.

Lat J. Celmins
lcelmins@mclawfirm.com
480-994-2000

 

ANNOUNCEMENT

 

Effective January 6, 2020, attorneys Michael W. Margrave, Michael L. Kitchen, and Patrick J. Van Zanen, as well as paralegals Brittany Crane and Mallory Rasmussen, will join Sacks Tierney P A at their office located at 4250 N. Drinkwater Boulevard, Scottsdale, AZ  85251. Their new contact information is:

Michael W. Margrave    
direct line: 480-425-2606
fax: 480-425-4906
michael.margrave@sackstierney.com

Michael L. Kitchen
direct line: 480-425-2619
fax: 480-425-4919
michael.kitchen@sackstierney.com

Patrick J. Van Zanen    
direct line: 480-425-2623
fax: 480-425-4923
patrick.vanzanen@sackstierney.com

Brittany Crane
direct line: 480-425-2627
fax: 480-425-4927
brittany.crane@sackstierney.com

Mallory Rasmussen
direct line: 480-425-2629
fax: 480-425-4929
mallory.rasmussen@sackstierney.com

We hope to continue serving your needs at our new home with Sacks Tierney P.A. beginning January 6, 2020