A Lady Bird deed, also known as an enhanced life estate deed, is a legal tool that allows property owners to transfer their property to their heirs while retaining control over the property during their lifetime.
The term Lady Bird deed is believed to have originated from a 1980s legal case in which former U.S. President Lyndon B. Johnson transferred the property to his wife, Lady Bird Johnson, using this type of deed.
Although Lady Bird deeds are not named after Lady Bird Johnson herself, the name is believed to have stuck due to the high-profile nature of the case and the memorable name of the former First Lady. Today, Lady Bird deeds are recognized in several states and are often used as an estate planning tool to avoid probate and minimize estate taxes.
Published: Nov 24, 2022
Updated: Mar 29, 2023
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