As Father’s Day approaches, we often think about how to show appreciation for the dads, grandfathers, and father figures in our lives. Beyond the usual cards, tools, and cookouts, there’s another gift worth considering—the gift of planning ahead.

Whether you're a dad yourself or honoring one you love, making thoughtful decisions about how a home or property will pass to the next generation is one of the most meaningful legacies you can leave.

When it comes to estate planning for real estate, three common tools come up: the life estate deed, the transfer on death (TOD) deed, and the deed to a trust. Each offers a different way to secure a future for your loved ones.

Let’s break down what they mean—and how they reflect a father’s care and foresight.

1. Life Estate Deed: Keeping the Home, Passing It On

A life estate deed lets someone (often a parent) keep the right to live in their home for the rest of their life, while naming who will automatically inherit the property after they pass.

Benefits:

• Avoids probate
• Guarantees Dad can live in the home for life
• Often simple and cost-effective

Drawbacks:

• Hard to change once signed
• Can complicate taxes or Medicaid eligibility

Why it’s a Father’s Day gift: It says, “Dad, your home is always yours—and we’ve taken care of the future, too.”

2. Transfer on Death (TOD) Deed: Flexibility with a Backup Plan

A Transfer on Death deed (also called a beneficiary deed) allows the homeowner to name who will get the property after they die—but without giving up any control during their lifetime.

Benefits:

• Avoids probate
• Easy to revoke or change
• Keeps full control while alive

Drawbacks:

• No protection for long-term care costs during lifetime

Why it’s a Father’s Day gift: Perfect for the independent dad who wants flexibility. “You're still in control, Dad—but now there's a plan in place.”

3. Deed to a Trust: Long-Term Protection and Control

A deed to a trust transfers ownership of a home into a living trust, which is managed according to written instructions. Dad can still live in and manage the home, and when he passes, the trust ensures a smooth transition without court involvement.

Benefits:

• Avoids probate
• Allows complex instructions and protections
• Can cover more than just the home

Drawbacks:

• More complex and costly to set up
• Must be maintained properly

Why it’s a Father’s Day gift: This is for the planner, the protector—the father who wants to build a true legacy. “Dad, let’s make sure your wishes are carried out, just the way you intend.”

So, Which One Is Right for You or Your Family?

Each of these tools—life estate deed, TOD deed, and deed to a trust—can help protect a father’s wishes, reduce family stress, and ensure a smooth transfer of property. If you’re not sure where to start, a conversation with an estate planning attorney can help guide the decision. And what better time than Father’s Day to begin that dialogue?

Father’s Day is about love, leadership, and legacy. This year, consider giving or encouraging a gift that won’t be forgotten: a clear, secure plan for the future. Because some of the greatest gifts aren’t found in a box—they’re found in peace of mind.