Q: Is a TOD deed enough for my home, or do I need a will?

A: A Will is never a bad idea. One good reason is to spell out your desire for funeral arrangements and your wishes for your remains. It will also serve as a backup in case the title company spots any defects in the TOD.

A: A will can cover everything in your "estate", and is such a simple step to take, you should probably put in the effort to get one. Although the TOD can effect a transfer on death, depending on your health and age, you may want to have a consultation with an attorney regarding a trust. There are advantages and disadvantages to a trust, but one advantage is that it can protect your equity under some circumstances if you have to undergo long term health care.

A: While a TOD deed and life insurance beneficiary designation can avoid probate for those specific assets, they don’t cover everything. Any other property you own—like bank accounts without a payable-on-death designation, personal items, refunds, or anything acquired later—would fall under California’s intestate succession laws if you don’t have a will. That means the court, not you, decides who inherits.

If you have more than one child, and only one is named on the TOD deed and life insurance, the others could still inherit a share of any remaining property. And debts secured by your home (like your second mortgage or HELOC) will still need to be settled; the TOD deed transfers title but not responsibility for those obligations.

A simple will acts as a safety net. It lets you cover anything the TOD doesn’t, name someone to handle your affairs, and prevent confusion or unintended consequences. Without it, even a small oversight could lead to court involvement.

A: While a Transfer on Death (TOD) deed can be an effective tool for transferring your home to your daughter upon your death without probate, relying solely on this document presents several limitations in your situation. The TOD deed only addresses your real property and doesn't cover any other assets you may own beyond your life insurance policy. Furthermore, TOD deeds in California have specific requirements and limitations, particularly regarding the outstanding loans on your property.

Your existing mortgages and home equity line will still need to be addressed upon transfer, as these obligations don't disappear upon your death. Without additional estate planning documents, there may be confusion about who is responsible for these debts and how they should be handled. Additionally, if you were to acquire other assets before your passing or if circumstances change with your daughter, having no will could create complications.

A simple will would complement your TOD deed by providing clear instructions for any personal property, addressing how outstanding debts should be managed, naming an executor to handle administrative matters, and creating a backup plan if your daughter were unable to inherit. Given the complexity of real estate with multiple loans and the potential for changing circumstances, consulting with an estate planning attorney would help you determine the most appropriate approach for your specific situation and ensure your wishes are fully protected under California law.