What is a Beneficiary Deed?

The word “probate” — the court process designed to transfer title of assets to your heirs and clear your debts — sends chills down the backs of many. In reality, the probate process in Arizona isn’t as expensive or burdensome as most people believe. An Arizona probate typically lasts anywhere from four months (the statutory minimum) to a few years and can cost anywhere between two and five thousand dollars. Still, avoiding probate is an important and legitimate goal in estate planning.

The Arizona Legislature passed a new law, effective August 9, 2001, creating an alternative way of transferring title to real estate — the “Beneficiary Deed.” The Beneficiary Deed can prevent the probate of real property.