Trust or 'Ladybird Deed'?
Why do so many attorneys recommend forming a trust as the best or only way to protect your home from probate, and/or unreasonable delays in the transfer of ownership to your heirs after death?
I can only conclude, as does my attorney, that trusts are simply more lucrative for the attorney, since they cost thousands of dollars. Can anyone tell me any advantage that a trust has over a 'Ladybird deed'?
The 'Ladybird deed' was originated by President Johnson's advisors to insure the easy transfer of a number of his wife's properties to her heirs. My attorney developed and officially filed this deed modification for a total cost of just over $200. It automatically transfers ownership of our Florida home to a surviving spouse, or to our heirs as named in our ordinary will. No state or local agency can interfere in any way or delay this transfer.
Again, why would I want a trust?
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