Beneficiary deed
Posted date : May 14, 2019.
I read recently about gifting your property in Arizona. When we purchased our property in Arizona, our escrow agent suggested a beneficiary deed. Apparently, our property will pass to our named beneficiary without red tape or penalties. Worth looking into.
J. Grierson
Brandon, MB
Response :
Ed.: Another possible solution to this estate issue. I would still check with an estate lawyer in Arizona, and always be aware of the tax implications both in Canada and in the U.S. You normally do escape probate and its fees by having other named owners, as the property passes to them by succession.
