Lady Bird Deeds
Andrew David Easler, Esq.
Published
Updated
Is a Lady Bird Deed a Good Idea?
For many Florida owners, yes. It is a low cost way to pass real estate without probate while keeping full control, but it must be drafted and signed correctly.
For many Florida property owners, a lady bird deed is a low cost way to plan for real estate passing at death without probate.
A lady bird deed lets the owner keep all rights to one or more properties while naming one or more beneficiaries to receive the property at death. The owner can still sell, lease, or mortgage the property and can change or revoke the deed at any time.
When It May Not Fit
A lady bird deed prepared, signed, or recorded incorrectly may be invalid. Wrong wording can also create a traditional life estate, which would leave the owner unable to sell or mortgage without the beneficiaries' signatures. Other risks include unintended tax results and property going to the wrong person.
Contingencies need careful drafting. A well drafted deed can name backup beneficiaries in case a first choice dies before the owner. Without that language, a share can end up in probate.
Owners with several properties, minor or disabled beneficiaries, or a blended family may be better served by a trust. A QuickDeeds attorney reviews these points during the consultation.
Disclaimer: This content is for informational purposes only and is not legal advice. No warranties on completeness, accuracy, or suitability. Always consult an attorney for personal guidance.
Related Lady Bird Deeds FAQs
- Is a Trust Better Than a Lady Bird Deed?
- Lady Bird Deed vs. Lady Bird Trust: What's the Difference?
- What Are the Advantages and Disadvantages of Lady Bird Deeds?
- What Are the Risks of DIY Lady Bird Deeds for Owners and Heirs?
- What Is a Florida Lady Bird Deed?
- What Is an Enhanced Life Estate Deed?
- What Is Florida's Lady Bird Deed Law?
- What Is the Purpose of a Lady Bird Deed?