During the owners lifetime, a deed upon death does not: 1. Affect an interest or right of the owner, including, without limitation, the right to transfer or encumber the property; 2. Affect any method of transferring property otherwise permitted under the laws of this State; 3. Affect an interest or right of a designated beneficiary, even if the designated beneficiary has actual or constructive notice of the deed; 4. Affect an interest or right of a secured or unsecured creditor or future creditor of the owner, even if the creditor has actual or constructive notice of the deed; 5. Affect the owners or the designated beneficiarys eligibility for any form of public assistance; 6. Create a legal or equitable interest in favor of the designated beneficiary; or 7. Subject the property to claims or process of a creditor of the designated beneficiary.
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