When most people think about estate planning, they imagine wills, trusts, and maybe a power of attorney. But there’s a lesser-known tool in Florida that can save time, money, and hassle for families — the Lady Bird Deed.
A Lady Bird Deed — also called an Enhanced Life Estate Deed — lets you keep full control of your property during your lifetime, while naming who will inherit it automatically when you pass away.
Unlike a traditional life estate, you don’t give up your rights to sell, mortgage, or otherwise deal with the property during your lifetime. You remain in the driver’s seat until the day you die.
A Lady Bird Deed offers several key benefits. First, it allows the property to pass directly to your chosen beneficiary without going through the probate process, saving time, legal fees, and unnecessary stress for your loved ones.
Second, you retain complete control over the property during your lifetime. You can change your mind about who will inherit it, sell it, or refinance it at any time without needing your beneficiary’s consent.
Third, Lady Bird Deeds can provide advantages in Medicaid planning. In Florida, this type of deed generally will not trigger a Medicaid penalty period for transfers and can help preserve your homestead from recovery after death.
Finally, you maintain all of your Florida homestead protections, including property tax benefits and creditor protections, for as long as you live in the home.
A Lady Bird Deed can seem almost too good to be true, but it is not a one-size-fits-all solution. First, it’s important to remember that only certain states recognize this type of deed — Florida is one of them. If you own property in another state, different rules will apply.
Second, a Lady Bird Deed does not replace a complete estate plan. While it can avoid probate for the property it covers, you still need a will or trust to address your other assets and ensure your wishes are fully carried out.
Finally, the deed must be drafted correctly. Florida law requires very specific language for a Lady Bird Deed to be valid, so it’s critical to have it prepared by someone familiar with the state’s requirements.
Lady Bird Deeds are especially useful for homeowners who want a simple way to pass their home to children or other heirs without the delay and expense of probate. They also work well for people who value flexibility — allowing them to sell the property, change beneficiaries, or refinance without restrictions. Additionally, they can be a valuable tool in Medicaid planning, helping protect the primary residence while preserving eligibility.
However, a Lady Bird Deed may not be the right fit for everyone. If you have complex family dynamics, own multiple properties, or want to place detailed conditions on how the property is handled after your death, other estate planning tools might be a better choice.
If you’re wondering whether a Lady Bird Deed is right for you, the estate planning team at Rice Law Firm can help. We regularly prepare these deeds for Florida homeowners and can explain how they might fit into your overall plan. We’ll walk you through the pros and cons, review your unique circumstances, and ensure the deed is drafted correctly so your wishes are carried out. With the right guidance, you can take advantage of this powerful but often overlooked planning tool while keeping full control of your property during your lifetime.