What is a Lady Bird Deed
A Lady Bird Deed is technically called an Enhanced Life Estate Deed. This deed is one of the deeds which may be used for estate planning.
One reason you might use a Ladybird Deed may be to avoid the expense of probate. Other deeds used for estate planning purposes are:
Good to know: You do not need to have a Will in order to transfer real estate if you have a Lady Bird Deed or one of the other estate planning deeds filed before your death.
Note: The information provided is not intended as tax advice. Please consult a CPA or a tax advisor for tax questions.
Enhanced Life Estate Deed Texas
An Enhanced Life Estate Deed Texas gives the grantor the option to change the grantee at any time. The grantor does not need the consent of the grantee to do so. Additionally, the grantor retains the right to sell or mortgage the property.
The owner who creates a Ladybird Deed in Texas or Enhanced Life Estate Deed transfers their own real property to themselves for their lifetime and becomes known as a “life tenant”.
Upon the life tenant’s death, the property transfers to the remainderman without the need for probate. It is recommended that an Affidavit of Death is filed in the property records to verify the death of the life tenant.
Residential Real Estate Lawyer
At Texas Property Deeds, your Lady Bird Deed will be prepared by a Texas licensed residential real estate lawyer. With over 30 years experience in real estate law, your documents will be prepared professionally and correctly.
If you have questions about the advantages or disadvantages of a lady bird deed in Texas speak directly with attorney Scott Steinbach at 972-960-1850.
Good to know: It is recommended, if you anticipate that you would like to create a Lady Bird Deed, to do so sooner rather than later.
Note: It is beneficial to enlist the assistance of a residential real estate attorney when preparing an estate planning deed such as a Lady Bird Deed.
Points to Consider about Lady Bird Deeds:
Lady Bird Deed prepared for $195
R. Scott Steinbach is licensed in the state of Texas. Board Certified by the Texas Board of Legal Specialization in Residential Real Estate Law. AV Preeminent rated by Martindale-Hubble. Peer rated for Highest Level of Professional Excellence.
Texas Property Deeds is a service of The Steinbach Law Firm.
The Steinbach Law Firm is a Texas Real Estate Law Firm. We prepare all documents for any real estate transaction in Texas.