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The lady bird deed lets you (1) revoke the transfer if you change your mind later, (2) avoid probate, (3) keep your Florida homestead exemption, and (4) maintain Medicaid eligibility. The lady bird deed is also called an “enhanced life estate deed” and occasionally a “lady bird trust.”. A lady bird deed is also called an “enhanced ...
Jul 5, 2022 · A Lady Bird Deed, an enhanced life estate deed, is a special deed recognized in only five states. Fortunately, one of those states is Texas. The lady bird deed can benefit Texans wishing to leave their beneficiaries a property inheritance. In this article, I explain what lady bird deeds are and their benefits in Texas estate planning.
May 10, 2024 · Transfer on Death Deeds (TODD) & Lady Bird Deeds. A transfer on death deed (TODD) is a legal document that allows a person to transfer ownership of their property after they die. By using a TODD, a person can transfer the property directly without going through probate. This procedure can be used for property like land, houses, buildings, and ...
Transfer-on-Death Instrument. Deed Upon Death Beneficiary Deed. TODD. Additionally, a few states allow what’s known as a Lady Bird Deed, also called an Enhanced Life Estate Deed. Lady Bird Deeds allow you to keep control over a property while you’re alive, but then transfer it without going through probate after you pass away.
WHAT EXACTLY IS A LADY BIRD DEED? Only five states currently allow Lady Bird Deeds, and Florida is one of them. The other states are Texas, Michigan, Vermont, and West Virginia. By using a Lady Bird deed, a person transfers all properties and real estate to himself until death. This creates what is called a life estate in the owner. A Lady Bird ...
Jan 11, 2024 · A Lady Bird deed, also known as an enhanced life estate deed, allows an individual to retain a life estate in a property while passing the remainder interest to beneficiaries. The individual also retains the right to sell, lease, or mortgage the property without the beneficiaries' consent. However, Lady Bird deeds are not recognized in Alabama.
Jan 8, 2024 · Our attorneys can also advise on whether a Lady Bird Deed is the best option for your needs and circumstances. Please call us at (800) 604-1871 or email us at Info@JFRealEstateLaw.com for a free consultation on Lady Bird Deeds and our other estate planning and real estate services. We offer estate planning, real estate, and probate services ...
