Lady Bird Deeds Can Help You Keep The Peace In Your Family
What is the most splendid bird in Florida? Is it the snowy egrets that occasionally walk gracefully across the lawns in retirement communities that are far enough from the main road? Is it one of the birds of the Everglades, the greater blue herons or roseate spoonbills wading among the sawgrass, or the anhinga sunning itself on the branches of a melaleuca tree that really doesn’t belong in the Everglades? Perhaps the captive birds are even more exquisite, the flamingos in a fenced in pond near the entrance of the Miami Metrozoo, the peacocks that stroll the grounds at Flamingo Gardens, or the gallinules in the ponds at the Disney theme parks, with their iridescent dark purple feathers? Maybe Florida’s best birds are the ones you eat, the jerk chicken from hole in the wall restaurants that are so good that they can survive on word-of-mouth publicity and do not even have to advertise, or the ones doused in buffalo sauce at South Florida’s various Ale House locations. The best bird in Florida might even be the one you flip on stretches of I-95 where there are more lanes of traffic than you can count, and they are all going so fast that it makes your head spin. Each of these birds is at least a little bit belligerent, though. Where are the birds that keep the peace? Perhaps a lady bird deed is the bird you have been looking for, and to get one of those, contact an Orlando estate planning lawyer.
Life Estate Lets Blended Families Have the Best of Both Worlds
A lady bird deed, also known as an enhanced life estate deed, turns your house into a non-probate asset, much like a trust or a transfer on death (TOD) bank account. When you execute a lady bird deed, your house will not have to go through probate.
A life estate deed declares that the life tenant may live in your house for the rest of his or her life, even if the life tenant outlives you. After the life tenant dies, the remainder beneficiary inherits the house. People use life estate deeds if they want their surviving spouse to have a place to live for the rest of his or her life, but they ultimately want their children from a previous marriage to inherit the house. A lady bird deed is a life estate deed with an extra touch of elegance, an extra layer of sheen to its tail feathers. Unlike with a traditional life estate deed, it is not an agreement between you and the remainder beneficiary. This means that you can make unilateral decisions to modify its terms.
Contact Gierach and Gierach About Lady Bird Deeds
An estate planning lawyer can help you with lady bird deeds and other elegant strategies for keeping your property out of probate and keeping the peace in your family. Contact Gierach and Gierach, P.A. in Orlando, Florida to discuss your case.
Source:
trustandwill.com/learn/enhanced-life-estate-deed
