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Lady Bird Deeds
Lady Bird Deeds in Florida – A Smart Estate Planning Tool
A Lady Bird Deed, also known as an Enhanced Life Estate Deed, is a powerful estate planning tool that allows Florida homeowners to pass their property to beneficiaries without going through probate. This unique type of deed enables you to retain full control over your property during your lifetime while ensuring a seamless transfer to your chosen heirs upon your passing.
At Hadeed Legal, we help homeowners draft and execute Lady Bird Deeds to provide their families with a simple, cost-effective alternative to traditional estate planning methods.
What Is a Lady Bird Deed?
A Lady Bird Deed allows the property owner (life tenant) to retain ownership and control of their home while designating one or more beneficiaries to inherit the property upon their passing. Unlike a traditional life estate deed, a Lady Bird Deed offers the flexibility to sell, mortgage, or transfer the property at any time without needing the beneficiaries’ permission.
This means that:
- You keep full control of your property while you’re alive.
- Your home passes automatically to your beneficiaries upon your death.
- The property avoids probate, saving time and legal costs.
- You can change or revoke the deed at any time without beneficiary approval.
Benefits of a Lady Bird Deed in Florida
A Lady Bird Deed is a popular estate planning tool because it offers:
- Probate Avoidance – Since the property transfers automatically upon death, it does not have to go through Florida’s probate process.
- Medicaid Asset Protection – The property remains in your name, meaning it does not count as a “gift” for Medicaid eligibility purposes. This can help preserve Medicaid benefits while ensuring your heirs inherit the home.
- No Loss of Control – Unlike a traditional life estate deed, a Lady Bird Deed allows you to sell, refinance, or change ownership at any time.
- No Federal Gift Tax Consequences – Because you retain full control of the property, the IRS does not consider it a taxable gift.
- Homestead Exemption Protection – Your property continues to qualify for Florida’s homestead exemption, protecting it from certain creditors and keeping property taxes low.
How Hadeed Legal Can Help
At Hadeed Legal, we ensure your Lady Bird Deed is properly drafted and recorded, protecting your property and your heirs. Our services include:
- Customized Deed Preparation – Ensuring the deed is legally sound and meets your estate planning goals.
- Legal Guidance on Property Transfers – Explaining how a Lady Bird Deed fits into your overall estate plan.
- Homestead & Medicaid Planning – Helping you maximize legal protections while maintaining eligibility for benefits.
- Reviewing Existing Estate Plans – Ensuring your new deed aligns with your will, trust, or other legal documents.
Frequently Asked Questions About Lady Bird Deeds in Florida
1. Who should consider using a Lady Bird Deed?
Anyone who wants to avoid probate, retain control of their property, and ensure a smooth transfer to beneficiaries should consider a Lady Bird Deed.
2. Can I revoke or change a Lady Bird Deed?
Yes! Unlike a traditional life estate, a Lady Bird Deed allows you to sell, transfer, or modify the property at any time without the beneficiaries’ consent.
3. Does a Lady Bird Deed protect against creditors?
In Florida, the homestead exemption protects primary residences from most creditors. However, other property may still be subject to claims.
Why Choose Hadeed Legal for Your Lady Bird Deed?
- Flat-Rate Fees – No Hidden Costs
- Comprehensive Estate Planning Solutions
- Expert Guidance on Florida Property Law