What is a Lady Bird Deed in Michigan?
A lady bird deed is used to transfer your property, like real estate, to a named beneficiary after your death. This can avoid it going through the probate process.
Is Your Lady Bird Deed Outdated?
Lady Bird Deeds have been around for a while. In fact, they’ve been around so long, there could be a chance there’s a better tool to accomplish your planning goals. What can and what can’t a Lady Bird Deed accomplish… and why?
Let’s face it – this planning option is overused. Most Attorneys agree, but many may still recommend this tool. You may have even seen a fill-in-the-blank Lady Bird Deed form at your county’s register of deeds. This is potentially dangerous.
If you remember, the Rubix cube in the 1980’s, you’ll recall the trend. Everyone had one, but not many of us knew how to solve it. It’s complicated and complex. We can accomplish changing one side of the cube to all one color, but what about the other three sides? A Lady Bird Deed is a lot like that! With a narrow focus, a Lady Bird Deed could be the best solution. But when the situation is viewed from all angles, that good feeling is gone.
Watch this #WebinarWednesday replay with Attorney Bob Mannor to learn more. If you want our firm to review your Lady Bird Deed – or if you need planning of your own, contact our office.