A Lady Bird deed, also called an enhanced life estate deed, can allow a Florida property owner to retain broad control during life while naming one or more beneficiaries to receive the property at death without a probate transfer.

Unlike a traditional life estate deed, the enhanced life tenant generally retains the power to sell, mortgage, lease, or otherwise deal with the property without the remainder beneficiaries’ consent. The future interest does not give the beneficiary the same present control as a current co-owner.

The deed must be carefully drafted, signed, witnessed, notarized, and recorded. The legal description and current ownership must be confirmed, and the plan should be reviewed for homestead, spouse and family rights, mortgage, title insurance, tax, creditor, and Medicaid considerations. A Lady Bird deed is not appropriate for every family or every property.

The deed should also be coordinated with the owner’s will, trust, power of attorney, and overall estate plan. Beneficiary changes, incapacity concerns, or a future sale may affect the best approach.

Related services: Trusts, Last Will, Power of Attorney, and Title Insurance.

Contact GAF Real Estate Law to determine whether a Florida Lady Bird deed fits your estate and real estate planning goals.