A Gift for the New Year: Transfer on Death Instruments
January 5, 2012
Authored by: Stephanie Moll and Steve Dawson
Starting on January 1, 2012, Illinois property owners have a new option when it comes to transferring their residential real estate on death. Now that the Illinois Residential Real Property Transfer of Death Instrument Act (the “Act”) has been signed into law, Illinois joins several other states, including Missouri and Colorado, that allow some form of transfer on death instrument for real estate.