florida enhanced life estate deed Ladybird Warranty Deed. This enhanced life estate deed is a document that transfers ownership of real property, while reserving full access to the property for the duration of the grantor’s life.
Lady Bird Deed: Enhanced Life Estate Deed in Florida October 21, 2013 by Howard C. Stross As a Florida estate planning attorney and a board certified real estate law attorney, sometimes people ask me to draft a deed to add someone as a co-owner with rights of survivorship or draft a Lady Bird Deed to avoid probate.
The attorneys at The Law Office of David Goldman PLLC have created a Florida Enhanced Life Estate Deed, which is also known informally as Florida "Lady Bird" deed. The Florida Enhanced Life Estate Deed is a great estate planning tool because it allows a person to qualify for Medicaid and keep the homestead.
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To cure that problem, we have what is known as a Lady Bird Deed or Enhanced Life Estate. The Lady Bird Deed is a type of life estate with one great exception. There is extra language in the deed that says that I, the creator of the life estate, can take back or change the remainder owner.
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Some lawyers call these “enhanced life estate” deeds. Technically speaking, a Lady Bird Deed sets up a type of ownership in which the original owner retains a life estate coupled with an “unlimited power of appointment.” The deed then specifies who will become the owner of the property upon death.