Jerry Taylor explains Lady Bird Deeds, which let you name who inherits your home while you live there for life. The deed skips probate, you can still sell or change your mind, and it shields assets from Medicaid recovery. It only works in Florida, Texas, Michigan, Vermont, and West Virginia.
A Lady Bird Deed can keep the government out of your house, but there's a catch. They're only good in 5 states. So listen up and I'll tell you which ones. A Lady Bird Deed or an Enhanced Life Estate Deed allows the owner of a property to name who will get the property when they die, but it gives that property owner the right to live there for so long as they are alive. Big benefits are it avoids probate court. The owner can still sell the property or even change the beneficiary. It provides for immediate protection from Medicaid recovery. More to it, so you should speak to a lawyer about it. What are the states where Lady Bird Deeds are allowed? Florida, Texas, Michigan, Vermont, and West Virginia.
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