Pass Your Home Outside Probate Court

23 May 2023 · 1 min

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0:33

In this short informational monologue, Jerry Taylor explains what a Lady Bird Deed (also called an Enhanced Life Estate Deed) is and how it can be used to keep a home out of probate. He describes that the deed lets the property owner name a beneficiary who will receive the home upon death while the owner retains the right to live in, sell, or change the beneficiary during their lifetime. The key advantages highlighted are avoidance of probate court, immediate protection from Medicaid’s asset recovery (no five‑year look‑back period), and flexibility for the owner. Taylor notes that the deed is available in several states—Florida, Texas, Michigan, Vermont, and West Virginia—and advises viewers to consult a lawyer for detailed guidance.

Chapters

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. In other words, there is no 5-year lookback. There's more to it, so you should speak to a lawyer about it. One of the states where Lady Bird Deeds are allowed, Florida. Texas, Michigan, Vermont, and West Virginia.