A Lady Bird Deed, also called an enhanced life estate deed, is a document that allows you to retain ownership of your property while giving someone else the right to live in and use the property for the rest of your life. After you die, the property passes on to whomever you have named as your beneficiary.
Lady Bird Deeds are commonly used to avoid probate since the ownership of the property is transferred automatically upon your death without having to go through any court proceedings.
While Lady Bird Deeds offer some clear benefits, weighing all the drawbacks before deciding if this is the right Estate planning tool for you is crucial.
If you have questions about Lady Bird Deeds or other estate planning options in Florida, contact an experienced attorney who can advise you on what's best for your unique situation.
Published: Oct 27, 2022
Updated: Mar 29, 2023
PublicationsQuitclaim Deeds: Origins, Benefits, and Risks