Lady Bird Deed

How is a Lady Bird deed different from a regular life estate deed?

A Lady Bird deed (enhanced life estate deed) allows you to retain full control over your property during your lifetime, including the right to sell, mortgage, or change beneficiaries without getting permission from the remainder beneficiaries. With a regular life estate deed, you lose these rights and need the remainder beneficiaries' consent for major decisions. Lady Bird deeds also automatically transfer the property at death without probate, while maintaining your homestead exemptions and avoiding gift tax issues during your lifetime.