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04.02.2015 04:56
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Q: What is a Lady Bird Deed? Can it be used to transfer ownership of our second home in Michigan to our family outside of probate?

A: If you look up Lady Bird Deeds on the Internet, this is what you'll find out: First, the deed's name comes from former First Lady Claudia Alta Taylor Johnson. She apparently became associated with this type of deed because President Lyndon Johnson used one to transfer property to her after his death.

The second thing that you will find is Lady Bird Deeds are also referred to as enhanced life estate deeds. That's sounds cool but what the heck does that mean?

Anenhanced life estate deed allows a grantor to not only retain a life estate interest in a property but also an unlimited power of appointment. Clear as mud right?

What an enhanced life estate deed essentially does is allow a person to name a beneficiary on real estate. unlimited power of appointment.

Does this sound familiar? If not, it should. Since transfer on death deeds name a beneficiary, probate isn't required to transfer title following the death of the owner.

Now, before I answer your specific question, you should understand Randall Cobb Super Bowl XLIX Jersey that I am not licensed in the state of Michigan and I can only speak in generalities. I do not want to be on the business end of the Michigan Bar.

Assuming that Michigan recognizes Lady Bird Deeds or some version of it (and according to the Internet, they do), you should be able to transfer title to your property at death without needing to open an ancillary estate. That should accomplish your goal of probate avoidance. However, I can't tell you that this the best way to accomplish your goal.

If you want John Kuhn Super Bowl Jersey to find out if a Lady Bird Deed will address your estate planning needs, I suggest that you contact a Michigan attorney and discuss your goals. It may very well solve your problem, but it might not. Before making your decision, talk to someone in the know.

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