lady bird deed florida tax consequences

Using an Enhanced Life Estate (Lady Bird Deed) for Asset Protection in Florida

As individuals plan for the future, one crucial aspect to consider is how to protect their assets from potential risks and creditors. In Florida, one effective tool for asset protection is the use of an Enhanced Life Estate, commonly known as a Lady Bird Deed. This legal instrument allows individuals to retain control of their property during their lifetime while ensuring a seamless transfer of ownership to designated beneficiaries upon their passing.

Understanding the Lady Bird Deed

A Lady Bird Deed is a type of enhanced life estate deed that enables property owners to transfer real estate to their chosen heirs outside of the probate process. This deed allows the property owner (also known as the grantor) to retain full control over the property during their lifetime, including the right to sell, mortgage, or rent the property without seeking permission from the beneficiaries. Upon the grantor’s death, the property automatically …