Question
Michelle lives in a state that allows use of a beneficiary deed to transfer property at death. She owns her home in her sole name.
Michelle lives in a state that allows use of a beneficiary deed to transfer property at death. She owns her home in her sole name. She wants this asset to go to Bertram, her only child, at her death. Which one of the following is a correct statement regarding use of a beneficiary deed in this situation?
A) If she uses a beneficiary deed, she will not be able to live in the house until her death.
B) A beneficiary deed can only transfer personal property at death.
C) She will incur gift tax if she records the deed.
D) If Bertram predeceases her, Michelle will be able to name another beneficiary to receive title to the home at her death.
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