Kendall County, IL estate planning attorneyIf you are new to estate planning, you might understandably think that it is all about wills and trusts. While wills and trusts are powerful and widely used ways to create your estate plan, there are other legal instruments that may be well suited to your needs. 

One of these is called the Illinois transfer on death instrument, and it is a way to transfer real property upon your death. An experienced Illinois estate planning attorney can offer advice on whether you should consider a transfer of death instrument for your estate plan. 

What Is a Transfer on Death Instrument?

A transfer of deed instrument (TODI)  is a revocable estate planning document that allows the owner of residential real estate to transfer the property upon their death while bypassing probate, the court process used to settle estates and determine if certain legal instruments such as wills are valid. With a TODI, the property owner selects one or more beneficiaries who will receive ownership interests in the property when the owner dies.