A Florida Ladybird deed has become one of the increasingly most used estate planning tools by the some of best Jacksonville estate planning attorneys. One common questions we receive at our Jacksonville estate planning law firm is how the Ladybird deed works under Florida’s current homestead protections. In Florida, a…
In Florida, the primary residence is often protected by the Florida constitutional homestead protections. While in many other states, a persons homestead is not protected from creditors and can be lost to claims for Medicaid reimbursement, this is not the case in Florida. The only creditors that can make a…
In Florida many parents create Life Estate Deeds with their children in an attempt to avoid Probate on their homes. A Florida Life Estate Deed is a document which changes the ownership of a home or other piece of real estate. Essentially it creates a present interest and a future…
Joseph Percope has written an article The Impact of Co-ownership on Florida Homestead in the Florida Bar Journal that discusses the tree kinds of homesteads defined in a 1997 Florida Supreme Court case: The tax exemption; The Protection from Creditors; and The restrictions on alienation of homestead property in Florida.…
A Florida Enhanced Life Estate Deed (sometimes called “The Lady-Bird Deed” is a tool used by Florida Estate Planning Attorneys, Florida Elder Law Attorneys, and other by Florida Lawyers to preserve the homestead for the benefit of the family and avoid a Probate in Florida. Upon the death of the…
Florida statutes define probate assets as those assets subject to a probate administration. There are several types of Probate in Florida which are discussed in our Free Florida Probate Handbook that you can request. Often it is easier to define which assets are not subject to probate. In Florida any…
Can a Florida Quit Claim deed be recorded after death? Generally any deed can be recorded at any time even after the death of the grantor. However there can be problems created by the delay in filing. First, we often see that the deeds were never delivered and as such…
While in Florida a lawyer is not required to create a valid deed like a ladybird deed or Florida Enhanced Life Estate Deed it may be a good idea to have a lawyer or attorney review these specific document because of their propensity for errors and the bad or unexpected…
One of the most common questions people ask about Florida Lady Bird Deeds (Florida Enhanced Life Estate Deeds) is whether upon the death of the grantor, the contingent beneficiaries receive a stepped up basis like they would receive if the property was to transfer under a will. Under Section 2036…
Florida Statute 193.1556 requires that any changes regarding a person or entity owning real property under Florida Statute 193.1554 or Florida Statute 193.1555 are reported to the property appraiser. This may affect some Florida Enhanced Life Estate Deeds. Under Florida Statute 193.1554(5), If the property is nonhomestead residential property, there…