The Lady Bird Deed: A Smart Way to Pass on Property in Florida
When it comes to life planning in Florida, the Lady Bird Deed (technically known as an Enhanced Life Estate Deed) is one of the most effective tools for transferring property to your loved ones without the delays and costs of probate, or using a trust..
What Is a Lady Bird Deed?
This deed lets you name what is essentially a beneficiary on your property, while still keeping full control during your lifetime. You can sell it, refinance it, or even change your mind—no permission needed. This beneficiary holds a “contingent remainder” interest in the property.
When you pass away, the property “automatically” transfers to your named beneficiary or beneficiaries. No court, no waiting, no probate. The beneficiary needs to record your death certificate. That is the extent of the work they have to do.
Why It’s Popular in Florida
Florida is one of the few states that recognizes Lady Bird Deeds, and there’s a reason why locals love them:
- Avoids probate for the designated property
- Keeps you in full control while you’re alive
- Helps protect Medicaid eligibility by treating the home as a non-countable asset
- Offers a simple, low-cost transfer of real estate to your family
Who Should Consider It?
A Lady Bird Deed may be right for:
- Homeowners who want to simplify the transfer of property
- Seniors planning for long-term care
- Families who want to simplify asset transfer without giving up flexibility
Make Sure It’s Done Right
This strategy must be drafted carefully to work as intended.