The technical name for a lady bird deed isenhanced life estate deed. The word “enhanced” distinguished lady bird deeds from regular (traditional) life estate deeds, which do not give the original owner/life tenant continued rights to deal with the property without the remainder beneficiaries’ ...
Understanding Lady Bird Deed: What Is It and How It Works Key Features of a Lady Bird Deed When to Use a Lady Bird Deed: Determining If a Lady Bird Deed is Right for You Benefits and Drawbacks of Using a Lady Bird Deed How to Create a Lady Bird Deed: Step-by-Step Guide How Is a...
the Lady Bird deed cost will be much less than the cost of having a revocable trust created. If you have a significant amount of property of any type in addition to your primary home, a revocable trust may be a better way to go. ...
So if you were to move the home into the castle trust and then sell the property, the proceeds of the sale would be protected. That’s something that’s a little bit different than with the lady bird deed. With a lady bird deed, the home needs to remain in th...
A Lady Bird Deed is a great tool to avoid probate and avoid estate recover/Medicaid Spend-down in Michigan as long as your plan on keeping the home a home. If you are looking to sell the home while alive, then maybe you should consider a Castle Trust™....
What Is a Lady Bird Deed and Should Retiree Get One?