For those of you who don't know me, I'm Cynthia Sad Kim, MLS director of client and community services. I'm one of the team members of the ADAPT project, which is the Adapted Advanced Directives and Property Transfers for Seniors. This morning, we are moving on to Part 2, which focuses on property transfers for seniors. Luckily, we have Tom Lynch from the Center for Disability and Elder Law as our subject matter expert who will be teaching us everything we need to know about property transfers for seniors. The goal is to allow seniors to decide for themselves during their lifetime who inherits their property when they pass away, without the need for probate. This is not inheritance, but rather a property transfer. It's a great benefit for our clients, and we are here to promote the service, help them with the process, and learn how to do it properly. Without further ado, I will be transferring over to Tom to teach us. Thank you again. My name is Tom Wet, and I'm the legal director from the Center for Disability and Elder Law. This is our fourth training in this project, and this one specifically focuses on Transfer on Death Instruments (TODIs). Previously, we have done trainings on powers of attorney for property and healthcare, as well as Illinois living will declarations. Two weeks ago, we covered all of this, and now we will be focusing solely on TODIs. A TODI is a document that can be signed by a homeowner who owns residential real property. It allows them to record a beneficial interest in the property, which helps avoid probate upon their death. Think of it as an alternative to a Land Trust. With a TODI, the homeowner appoints a beneficiary who will receive the property outside...
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2373 Form: What You Should Know
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Video instructions and help with filling out and completing Form 2373
