What is a lady bird deed?

Essentially, in Florida, a lady bird deed exists to avoid probate regarding a Florida property. A lady bird deed allows property to automatically pass to one or more designated individuals upon the owner’s death without having to go through the probate process. Florida is one of only a few states that recognize a lady bird deed. A lady bird deed allows an owner to maintain the right to sell, use and profit from property during their lifetime. It also avoids federal gift taxes. There are some disadvantages to a lady bird deed. The main problem with a lady bird deed is if a remainderman dies before the owner and the owner fails to have a valid Florida will. In that scenario, the property would have to go through probate and pass via intestate succession. It is important to discuss your specific needs with an experienced Florida attorney to ensure a lady bird deed is right for you. If you want to learn more, please contact us via phone, email or through our website.