No one likes to think about what they will leave behind to loved ones. But it’s something that we all inevitably must face. Being able to transfer real estate to heirs for many years as a complicated thing. But thanks to the Transfer On Death Deed that came into effect earlier this month, the process just got much simpler.

Earlier in 2015 the Texas Legislature created a new form called “Transfer Death Deed” which is a simple and inexpensive way for people to transfer real estate upon death and avoid lawyers fees.

The Transfer Death Deed is similar to a regular deed because it identifies the owner and the property. Rather than transferring the property to grantee now, the Deed provides that the transfer will take effect upon the owner’s death.

For the Transfer Death Deed to take effect it must be signed and notarized, then it must be recorded in the deed records of the county where the property is located. If the deed is not recorded, the home will not transfer when you die.

However, the deed can be revoked by recording a form called “Cancellation of Transfer on Death Deed”, and you be able to assign the deed to someone else if you wanted. You can also name alternative beneficiaries on the Transfer on Death Deed. So, for instance if you wanted to name your grandchildren as the inheritors of your home in the event your own child dies before you. But you cannot leave the home to several people in varying percentages. The deed does not allow you insert distribution provisions that might be necessary if you have multiple beneficiaries.

As with most passed laws, it’ll vary from state to state with the fine print of what you can and cannot do. Consulting with a lawyer before getting involved with filing a Transfer Death Deed to make sure everything goes smoothly. But the process is much simpler and quicker than a probate.