Free Lady Bird deed forms can be found at Rocket Lawyer's website. A Lady Bird deed is another name for a Transfer on Death deed or an enhanced life estate deed. A free Lady Bird deed to be used in the state of Florida can be found on deedclaim.com.Continue Reading
Lady Bird deeds are only legal in a handful of states. The forms on Rocket Lawyer can be customized to the state where the property is located.
A standard life estate deed allows someone to name a beneficiary to inherit property while the grantor maintains ownership of the property for his life. There are significant restrictions with a standard life estate deed, in that the grantor does not have the right to mortgage or sell the property, and he could be liable to the beneficiary if he decreases the value of the property.
An enhanced life estate allows the grantor to avoid probate on the property, retain the right to use the property for the rest of the grantor's life, maintain the right to sell the property at any time, and avoid jeopardizing the grantor's eligibility for Medicaid. Some states have laws that prevent the property from being sold after the grantor's death to repay the cost of Medicaid benefits paid on behalf of the grantor.Learn more about Financial Planning