A Lady Bird Deed, also known as an Enhanced Life Estate Deed, is a deed that, like a traditional life estate deed, allows property to pass automatically to one or more designated recipients at death, without the need for probate.
Lady Bird deeds are used to avoid probate. Here’s how it works:

You sign a deed transferring your real estate to a person or group of people (called the remaindermen or remainder beneficiaries) at your death, but retaining the right to sell, use, and otherwise deal with the property during your lifetime. If you decide to sell, mortgage, or otherwise deal with the property during your lifetime, you are able to do so without the consent of the remaindermen (this is the difference between a life estate deed and a Lady Bird deed). Upon your death, your remainder beneficiaries simply file your death certificate in the land records. This serves as proof of yours death and allows the property to be transferred to the remaindermen without the need for probate. Note: The issue of whether or not a deed is a Lady Bird deed is independent from warranties of title being conveyed. In other words, a Lady Bird deed could be a quitclaim deed, warranty deed, or special warranty deed.

Advantages of Lady Bird Deeds over Traditional Life Estate Deeds

The problem with a traditional life estate deed is the inability of the person who deeds the property to change his or her mind. Once a traditional life estate deed is signed, the grantor cannot sell, mortgage, convey, gift, or otherwise terminate the remainder interest during his or her lifetime without the consent of the remainder beneficiaries. Lady Bird deeds are intended to avoid this problem. Like a traditional life estate deed, a Lady Bird deed allows you to name someone to receive the property at your death while reserving the right to use the property during your lifetime. But unlike a traditional life estate deed, you are able to deal with the property during your lifetime, without the consent of the remainder beneficiaries.

Lady Bird deeds can allow you to:

• Keep complete control of the property during your lifetime without requiring consent of the remainder beneficiaries;
• Retain the right to use, profit from, or sell the property during your lifetime;
• Avoid triggering the Federal gift tax on the transfer during your lifetime; and
• Avoid probate of the property at your death.

Let us prepare a Lady Bird deed for you on an affordable, flat fee basis.