Lady Bird Deed and Medicaid Eligibility: How It Can Protect Your Assets
A Lady Bird Deed, also known as an enhanced life estate deed, is a valuable estate planning tool that allows seniors to protect their homes from Medicaid estate recovery while maintaining control over their property during their lifetime. This deed enables the property owner to retain the right to sell, mortgage, or modify the property […]
How to Set Up a Lady Bird Deed: Step-by-Step Guide
A Lady Bird Deed, also known as an Enhanced Life Estate Deed, is a valuable estate planning tool that allows you to retain control over your property during your lifetime while ensuring a seamless transfer to your beneficiaries upon your passing. This guide outlines the essential steps to create and execute a Lady Bird Deed […]
How a Lady Bird Deed Helps Avoid Probate and Protect Your Home
Navigating estate planning can be overwhelming. A Lady Bird deed, also known as an enhanced life estate deed, offers a practical solution to maintain control of your property while ensuring a smooth transfer to your beneficiaries after your passing. This unique legal tool has become increasingly popular among Florida homeowners seeking to protect their assets. […]
Common Mistakes to Avoid When Using a Lady Bird Deed in Florida
Many property owners turn to Lady Bird deeds as an effective estate planning tool in Florida. However, improper execution can lead to significant problems. Below, we outline critical errors to avoid to ensure your property transfers smoothly to your beneficiaries. 1. Incorrect Property Description Your deed’s legal description must exactly match the one on your […]
Can a Lady Bird Deed Be Revoked or Changed? Understanding Your Options
Many homeowners choose Lady Bird Deeds as a flexible estate planning tool to transfer property while maintaining control during their lifetime. When you use this type of deed, you might wonder about your ability to make changes or cancel it altogether. Your rights as the property owner remain intact with a Lady Bird Deed, also […]
How Often Should Someone Update Their Estate Plan?
Each person’s estate planning needs are unique, and the frequency with which you should update your plan depends on various financial, personal, and legal factors. As a general rule, it’s recommended to review your estate plan at least every 3 to 5 years, or whenever a major life event occurs. Key Life Events to Consider: […]
Common Estate Planning Mistakes to Avoid
Common Estate Planning Mistakes to Avoid Estate planning is a crucial process that ensures your assets are managed and distributed according to your wishes after your passing. However, many people make common mistakes that can lead to complications and disputes among heirs. Here are some of the most frequent errors in estate planning and tips […]
5 Essential Estate Planning Tips for Miami Residents
5 Essential Estate Planning Tips for Miami Residents Estate planning is a crucial aspect of ensuring your wishes are honored and your loved ones are provided for. In the vibrant city of Miami, Estate Planning Attorney Yanitza Schoonover is here to guide you through the process. Let’s delve into five essential tips to navigate estate […]