Probate Avoidance Strategy
It’s easier than you think to keep more of your estate in the hands of the people who matter the most. There are several methods to avoid or at least minimize the pitfalls of probate. Which method or combination of methods utilized will depend on what best suits you and your unique situation. A combination of the two different types of estate planning can ensure your family and assets are well-protected. Creating certain documents and naming beneficiaries can alleviate the common difficulties associated with probate.
Enhanced Life Estate “Ladybird” Deed
Stay in control beyond your years
This Deed is being used more frequently as the Estate planning tool of preference. The difference between the Traditional Life Estate Deed is the fact that the remainder persons (often the Grantor/Owner’s children or grandchildren) do not have any say in the Life Estate holder selling or mortgaging the property. The benefit here is that someone can put their property into a Life Estate and choose the remainder persons upon their death, but the remainder persons have no control over the property during the Life Estate holder’s life and the Life Estate holder cannot sell or mortgage without their permission. Again, the remainder persons cannot hold the title as joint tenants with right of survivorship.
We can help you protect your family’s future
Our team can provide appropriate options for your unique situation. Live your life with a sense of relief knowing your legacy will be protected.Get Started now