When it comes to estate planning in Florida, one legal tool gaining increasing popularity is the Lady Bird Deed. Officially known as an enhanced life estate deed, this powerful option allows property owners to retain control over their property during their lifetime while ensuring a smooth transfer of ownership upon death—without the burden of probate. Let’s explore how a Lady Bird Deed in Florida works and why it’s become a go-to solution for many.
What Is a Lady Bird Deed?
A Lady Bird Deed (enhanced life estate deed) allows a property owner to name a beneficiary (or multiple beneficiaries) who will automatically inherit the property when the owner passes away. Unlike a traditional life estate deed, the owner maintains full control over the property while alive—including the right to sell, mortgage, or even revoke the deed—without needing the beneficiary’s consent.
This deed is especially useful in the state of Florida, where avoiding probate is a key concern for many families.
Key Benefits of a Lady Bird Deed in Florida
Avoids Probate
Probate can be time-consuming and expensive. A Lady Bird Deed Florida allows property to bypass probate and pass directly to the named beneficiaries.
Retains Full Control
Unlike traditional life estate deeds, the property owner maintains the right to use, lease, sell, or refinance the property at any time.
Protects Medicaid Eligibility
In many cases, a lady bird deed state of Florida may help preserve eligibility for Medicaid, as the property is not considered a completed gift.
Offers Flexibility
The deed can be revoked or modified at any time during the owner’s life, offering a level of flexibility not found in most other estate planning tools.
How It Works in Practice
Let’s say John owns a home in Florida and wants his daughter to inherit it after his death. Instead of including it in a will (which would go through probate), John executes a Lady Bird Deed Florida, naming his daughter as the beneficiary. John can continue to live in the home, rent it, or even sell it if he wishes. When he passes away, the home transfers to his daughter automatically—no court intervention needed.
Is a Lady Bird Deed Right for You?
If you’re a homeowner in the state of Florida looking to protect your assets, simplify the inheritance process, and retain control during your lifetime, a lady bird deed may be the ideal solution. However, each situation is unique, so it’s important to consult with an experienced estate planning attorney.
Work with Florida Estate Planning Professionals
At Lumsden Law , we help Florida residents navigate complex estate planning strategies with clarity and care. If you’re considering a lady bird deed in Florida, our legal team can explain your options, draft the appropriate documents, and ensure your estate plan meets your goals.
Contact us today to schedule a consultation and take control of your estate with confidence.
