Quote:
Originally Posted by caseycasebeer
I am not an attorney, but was interested in how to convey title to my residence in The Villages to my son (upon my death). If possible, I wanted to avoid the hassle and expense of Probate.
My online research showed me something called an “Enhanced Life Estate Deed” (aka: “Lady Bird Deed”). Florida is one of five states that offers such a deed. It can be done online, avoids Probate, gives the “Grantee” life tenancy, and all the benefits of ownership (including Homestead Exemption benefits). At $60, it sounded pretty good, but I would invite other’s opinions.
Once you complete the simple worksheet, it is emailed back to you. You then have the document notarized and signed by two witnesses, then take it to the Clerk of the Court’s office (at Morse & Hwy 466) to have it recorded ($27.70). Amazingly simple.
The site I used was:
Right of Survivorship Deed | DeedClaim |
Have had one for years. If you own your house outright you are good to go. Homestead exemption is not transferred though. To claim homestead you have to reside in the home for more than one half of the year. That would only apply if your kid/kids actually move into the home. LBD is great as you still have control over your home. The day you croak it's theirs.
As far as the will goes, my will makes direct reference to the LBD to avoid any conflict as to the LBD intent, validity. No trust needed. I did use an attorney to draft original one. I have moved twice since original one.