San Antonio Express-News (Sunday)
Language of repealed Transfer on Death Deed may live on
Q: Your column a few weeks ago stated that the Transfer on Death Deed has been repealed effective Sept. 1. Will there be any effect on a previously filed deed recorded last year? Also, at that time I printed out a revocation form to use in the event it might be needed prior to my death.
Will that form still be legal?
A: The Texas Transfer on Death Deed that is being repealed as of Sept. 1 is merely a suggested form. You are not required to use the exact language from the statute.
Therefore, if you filed a Transfer on Death Deed using the statutory form, and even if you used the prior statutory form which existed before the new form was substantially revised two years ago, the document will still be valid (as long as it otherwise meets the requirements of the statute).
You can still use the repealed statutory form after Sept. 1, as there is no prohibition in the statutes for doing so. However, the reason the form was repealed was because it was so poorly written and difficult to understand. Therefore, you should think twice before using it.
The revocation form you printed will still be valid, mainly because it is a very simple form.
The Texas legislature has tasked the Supreme Court of Texas with the job of developing a new Transfer on Death Deed form as well as a new Revocation form. Hopefully, we’ll have new forms sooner than later.
Q: How then can we use TODDs if the forms are not available?
A: You have several options. First, you can still use the repealed form, as mentioned in the prior answer.
Second, you can hire an attorney to prepare one for you.
Third, you can wait until the Texas Supreme Court creates a new form. But the court was not given a deadline, so there is no telling when the new form will be created.
Fourth, you can make up your own form, but if you do, be sure it satisfies all requirements under state law.
Q: I live in a rented room at a senior community, and I have two adult children. I’m 89. My only assets are two bank accounts, both of which are payable to my children. I have nothing else of value. Do I need a will?
A: As long as at least one of your children survives you, you don’t need a will. But if you outlive either of them, be sure to review and possibly change your payable on death beneficiaries.
The information in this column is intended to provide a general understanding of the law, not legal advice. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances. Ronald Lipman of the Houston law firm Lipman & Associates is board-certified in estate planning and probate law by the Texas Board of Legal Specialization. Email questions to stateyourcase@lipmanpc.com.