It’s natural to want control over your property while ensuring a smooth transfer to your beneficiaries. A Lady Bird Deed, also known as an enhanced life estate deed, could be the solution you’re looking for in your estate planning journey.
Who Qualifies for a Lady Bird Deed?
You might be an ideal candidate for a Lady Bird Deed if you:
✔️ Own property in a state that recognizes Lady Bird Deeds (Florida, Michigan, Texas, Vermont, or West Virginia)
✔️ Receive Medicaid benefits or anticipate needing them in the future
✔️ Want to avoid probate for your real estate
✔️ Need flexibility to sell, mortgage, or lease property without beneficiary consent
✔️ Want to preserve tax benefits such as homestead exemptions
To understand how a Lady Bird Deed can fit into your estate plan, visit Estate Planning Basics.
Key Benefits of a Lady Bird Deed
1. Avoiding Probate
A Lady Bird Deed allows your property to transfer automatically to your designated beneficiaries without probate. This saves your loved ones time, money, and stress during an already difficult period.
📌 Own property in multiple states? A Lady Bird Deed can help avoid ancillary probate proceedings.
Learn more about probate avoidance strategies.
2. Medicaid Protection
If you currently receive Medicaid or might need it in the future, a Lady Bird Deed can help protect your home from Medicaid estate recovery.
✅ Property transfers don’t count as a gift, avoiding the Medicaid five-year lookback rule.
✅ You retain full ownership while keeping Medicaid eligibility.
Check out How a Lady Bird Deed Helps with Medicaid Planning.
3. Maintaining Control Over Your Property
A traditional life estate deed requires beneficiary consent for property transactions. However, with a Lady Bird Deed, you retain complete control and can:
🔹 Sell the property at any time
🔹 Mortgage or refinance it
🔹 Change beneficiaries
🔹 Cancel the deed entirely
4. Preserving Property Tax Benefits
Many homeowners worry about losing homestead exemptions or other property tax benefits. With a Lady Bird Deed, you:
✔️ Keep homestead exemptions while you’re alive
✔️ Avoid reassessment issues in many states
✔️ Ensure a tax-friendly inheritance for your beneficiaries
For more details, visit Homestead Exemptions and Estate Planning.
Is a Lady Bird Deed Right for You?
Consider a Lady Bird Deed if you want to:
🔹 Keep your property out of probate
🔹 Protect your assets from Medicaid recovery
🔹 Maintain full control over your property
🔹 Preserve your current tax benefits
🔹 Avoid gift tax consequences
🔹 Ensure a simple property transfer to beneficiaries
Get Expert Legal Guidance
For personalized estate planning advice, contact:
📍 Yanitza Schoonover
📍 6303 Waterford District Drive Suite 400
📍 Miami, FL 33126
📞 305-299-7496
🌐 EstatePlanningAttorney.us
Final Thoughts
A Lady Bird Deed can be a powerful estate planning tool for homeowners who want to retain control, protect assets, and simplify inheritance. If you’re unsure whether it fits your needs, consult a qualified estate planning attorney for expert guidance.
External Resources for Further Reading:
🔗 Medicaid Estate Recovery Rules (Medicaid.gov)
🔗 Understanding Gift Tax (IRS.gov)
