Ladybird Deeds
One-stop Solution For Florida Ladybird Deeds: We Can Prepare, Deliver, and Staff A Witness, & Mobile Notary For Recording & Execution!
We can prepare, print, record, and provide notarization of several forms including the Lady Bird Deed & Other Deeds Of Transport, Deeds of Transfer, and Deeds of Trust as well as Deeds of Conveyance.
In Florida, the following are some of the most common types of deeds used for property transfers:
Ladybird Deeds AKA Enhanced Life Estate Deeds are Popular among Florida Seniors as an asset protection mechanism. Similar in function to other states "Transfer on Death" TOD deeds. This legal instrument is designed to avoid the pitfalls of probate, as well as spend down Medicaid. We offer fast & Affordable Ladybird deed execution services.
A Florida enhanced life estate deed, commonly known as a Lady Bird Deed, is a legal instrument that provides a range of benefits for property owners looking to manage their real estate in a way that bypasses the probate process upon their death. Here are some of the key benefits of using a Lady Bird Deed in Florida:
Avoidance of Probate: The primary benefit is the ability to pass property directly to beneficiaries upon the death of the property owner without the need for probate court proceedings. This can save time and legal expenses.
Retained Control: The grantor (property owner) retains full control over the property during their lifetime. They can sell, lease, or mortgage the property without needing consent from the beneficiaries.
Flexibility: Since the grantor retains control over the property, they can change the beneficiary at any time without the beneficiary's consent. This flexibility allows the property owner to adjust their estate plans as circumstances change.
Protection from Creditors: In some cases, the property passed through a Lady Bird Deed may be protected from the beneficiaries' creditors until the property is actually transferred upon the death of the grantor.
Tax Advantages: The property may qualify for the homestead exemption, which can offer tax benefits such as reduced property taxes and protection from creditors for the grantor. Additionally, the beneficiaries may benefit from a step-up in basis, potentially reducing capital gains taxes if the property is sold after the grantor's death.
Simple and Cost-Effective: Creating and executing a Lady Bird Deed is generally simpler and less costly than setting up a trust or going through probate. It's a straightforward document that doesn't require extensive legal resources to draft.
Medicaid Eligibility: It can be used as a Medicaid planning tool, as the property may not be considered a countable asset for Medicaid eligibility purposes. However, it's important to consult with a legal professional regarding Medicaid planning, as rules can be complex and vary
Gift Tax Implications: Since the grantor retains control over the property and the transfer to the beneficiary occurs upon death, there are no immediate gift tax consequences.
Other Deed Preparation Services We Offer:
Warranty Deed: This type of deed guarantees that the seller (grantor) has clear title to the property and has the right to sell it. It also promises to defend the buyer (grantee) against any claims made by others regarding the property's ownership.
Quitclaim Deed (QCD): A quitclaim deed transfers whatever interest the grantor has in the property to the grantee without making any warranties. It does not guarantee that the grantor has clear title or ownership rights. Sometimes mistakenly called a Quick Claim Deed.
Special Warranty Deed: This deed provides limited warranties to the grantee, usually only for the time the grantor owned the property. It protects the grantee against any claims arising during the grantor's ownership but not against claims before that time.
It's essential to consult a qualified professional when dealing with property transfers to ensure that the correct type of deed is used and that the transfer adheres to local laws and regulations. Also, keep in mind that the specific names and requirements of deeds may vary from one jurisdiction to another.
We Sell Downloadable Ladybird Deeds for DIY Florida residents in a an editable template as well:
DIY Ladybird Deed Forms: Florida's most in-demand deed for seamlessly transferring property upon death. Download $18
DIY QuitClaim Deed Forms: Add or remove a property owner as a title holder. Download $10
Prices: Preparation only-$150. Preparation + Mobile Notary $250. Preparation, Notary & Witness (FL LAW REQUIRES ON ALL DEEDS) $275.
We can prepare transfer deeds, and enhanced life estate deeds and furnish a mobile notary to assist in execution. We can also assist with recording of deeds in Public Records!