I attended a seminar this week about Florida probate in relation to real estate transactions. One item that was discussed, was the difference between the traditional life estate deed and the Florida Enhanced life estate deed (a.k.a. Lady Bird Deed). We discussed some of the not so well known elements of these deeds and why one type of life estate deed should be used versus another. The most commonly known difference, relates to the ability to selling and mortgaging property without the joinder of the remainderman. However, there are other differences including federal tax issues and creditor claims against the remainderman. Since the Life Estate Deed is a commonly known and used estate document, I wrote a summary about the differences on my blog.
If you would like to learn more about the differences, either read my blog post about Life Estate Deeds or simply post a question to this blog and I will be happy to answer your question. Alternatively, you can email me or call me at (954) 458-8655. I offer a free initial consultation.
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