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Updated about 6 years ago on . Most recent reply
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property owned before marriage - separate or community? TOD deed
So my dad is getting married again. He has a pre-existing property before the marriage, and planning to do a transfer on death (TOD) deed to put the property in my name as the beneficiary.
However, would the new marriage automatically VOID the TOD deed, and/or turn the pre-existing property into community property or joint ownership between my dad and his new wife?
What is the best method? We live in California.
Most Popular Reply
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- CPA, CFP®, PFS
- Florida
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Attorney will have to chime in, but property before marriage is considered separate property. If he does not own the property as a Joint Tenant with the right to survivorship or Tenant by the entirety with his new wife, He can pass that to you via will or trust or
Even if the property is a community property, he can transfer you the half of property. Community property does not have a mandate that it needs to go to the wife. They are jointly owned by a spouse but doesn't have to go to the wife. He can pass half to you.
You could own the property as Joint Tenant and the property would go to you after the death. Or, trust can be used as well.
- Ashish Acharya
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