Lady Bird Deeds Law
When structuring your estate and planning for the future, it is important that all aspects of estate planning be considered. Attorney Douglas A. Tull and Attorney Ander R. Laubach have over 34 years of experience handling a wide range of estate planning matters for clients and their families. He has an extensive understanding of the many types of resources that may be utilized when creating a plan to protect your estate, including the use of Lady Bird deeds.
What is a Lady Bird deed?
Also known as an enhanced life estate deed or “pay on death” deed, a “Lady Bird” deed is one type of property transfer that allows an individual, while living, full use of the property, including the ability to sell or mortgage the property. In Michigan it is permitted by Michigan’s Land Title Standard Section 9.3. A Lady Bird deed can be an alternative to the transfer of real estate to a Trust. It also is an attractive (and often preferred) alternative to the “quit claim deed” creating a joint ownership with children (which the Attorneys at TULL & LAUBACH strongly discourages). Property which has been conveyed using a Lady Bird deed, properly drawn, will not be subject to probate, so it can be a good probate avoidance technique.
A Lady Bird deed is not available in all states, but is available for real property in Michigan. To learn more about how a Lady Bird deed may be beneficial to you, your beneficiaries and your estate, contact TULL & LAUBACH, Attorneys at Law, today and schedule an appointment with Mr. Tull or Mr. Laubach.
How does a Lady Bird deed work?
A Lady Bird deed works much like a pay on death bank account, where the account owner has full power over the account until death, but pursuant to the terms of the deed, upon death the account is transferred to the named beneficiary. In that situation it then requires the recording of the death certificate of the Grantor.
Experienced Lady Bird deed lawyer
This is a type of deed best not left to a real estate broker, title company employee or a do-it-yourself homeowner/estate planner. Not all attorneys understand how to put a Lady Bird deed to use for their clients. Mr. Tull and Mr. Laubach have handled numerous cases where Lady Bird deeds have been successfully utilized for their clients’ advantage.
For more information about Lady Bird deeds and how they can be used to protect your estate, or information on how to avoid probate, please call locally at 586-726-5742, toll-free at 1-866-TULL-LAW (885-5529), or e-mail our firm. Our office is conveniently located in the heart of Utica, Michigan, at the southwest corner of Hall Road (M-59) and Van Dyke Avenue. (Map and directions ) Evening or weekend hours are available by appointment. Home visits are available for the elderly and those with special needs. Credit cards accepted.