"Lady Bird" Deeds.

Author:Hoffman, Bruce E.
Position:Letters - Letter to the editor
 
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In the article on "The Disproportionate Impact of Heirs Property in Florida's Low-Income Communities of Color" in the September/October issue, the authors fail to mention the single most effective method of reducing the impact of heirs' property, to wit, the extended powers life estate deed, also referred to as the "Lady Bird Deed." Such deeds executed by the current owner allows passage of title to the intended beneficiaries upon death of the owner by simply filing a death certificate in the official records. In my office, the cost of such a deed is roughly the same as a simple will. The owner retains the right to sell, lease, or otherwise transfer ownership interest in the real property without consent of the remainder interest persons, but if not so transferred, to pass to the remainder persons upon the death of the owner. In my...

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