Volunteer Attorneys Help Close Generational Wealth Gap

Matthew Hulstein, supervisor of the pro bono unit at Mid-Minnesota Legal Aid, is looking for you, especially if you’re an attorney looking for a concrete and straightforward way to give back to the community. Working with the Hennepin County Recorder and Examiner of Titles, Hulstein’s unit is launching “TODD Tuesdays” as way to prevent the loss of stable housing and millions of dollars of equity to unresolved title issues, by helping homeowners set up a Transfer on Death Deed (TODD).

Among its benefits, a TODD can be helpful for estates that don’t need estate tax planning and where the only asset that might need probate is the home. A TODD lets you transfer the title to real estate when you die to avoid probate. It’s like the "payable on death" (POD) designation on a bank account. The beneficiary (new owner) takes ownership of the property when the current owner dies. They have no rights or control of the property until the owner dies. With the help of pro bono partners, TODD Tuesdays can positively impact community homeowners for generations to come.

If the legal title remains in a deceased person’s name, problems can ensue for the heir or heirs. “In this situation, new owners cannot borrow against the house, work with an existing mortgage lender, or sell,” according to Hulstein. “They also lose out on valuable benefits like the homestead exemption, mortgage interest deduction, financial assistance, and others. Foreclosure, forfeiture, and condemnation lurk around every corner.”

TODD Tuesdays will be offered to residents on the first Tuesday of the month at the Recorder’s Office. To become a member of this new cohort of pro bono attorneys, contact Hulstein at mhulstein@mylegalaid.org.