Who Should Have a Florida Lady Bird Deed?
Situations where a Florida Lady Bird Deed work well.
A Florida Lady Bird Deed can be an effective way to let your heirs inherit your real estate without going through the delay and expense probate. If you only have a will in place, a probate will be required. It is a common misconception that a will avoids probate. It does not. For many people, making a simple will, filing a ladybird deed, designating beneficiaries on your financial accounts might be an effective way to plan for your estate. This is especially the case if the amount of assets involved do not warrant the expense of a living trust.
Here are some factors that indicate a lady bird deed might be right for your situation:
- You have no minor children.
- You and your spouse agree on who you want to inherit your residence.
- Your residence is your most valuable asset.
- The value of your estate is under $1 million.
- You want your heirs to avoid probate court.
- You own a vacation property or second home in Florida.
- You want a simple, cost-effective estate plan.
- You want a lawyer to help ensure your documents are done properly.
If one or more of these statements are true for you, then a Florida Lady Bird Deed might be right for your situation. We will thoroughly review the facts of your case to make sure it is right for you and make sure you are educated regarding all of your options.