During the owner’s 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 owner’s or the designated beneficiary’s 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.