Lady Bird Deeds

A ladybird deed is an instrument in which a grantor transfers property to a grantee, but retains an enhanced life estate that includes the power to sell the property and retain the proceeds.  If the grantor decides to market and sell the property, they may do so with the consent of all involved parties.  Ladybird deeds can be a wonderful solution in many circumstances but a careful review of the facts and circumstances of the case is warranted to determine if it is appropriate for the applicant.  In other words, “don’t try this at home.”