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A Lady Bird Deed, also known as an Enhanced Life Estate Deed, is a type of deed used in Michigan (and some other states) to transfer real property to one or more recipients while retaining certain rights to use and possess the property during the grantor’s lifetime. The main advantage of a Lady Bird Deed is that it allows the grantor to retain control over the property during their lifetime while also providing for a smooth transfer of ownership upon their death, without the need for probate. This can be an effective tool in estate planning, as it can help to avoid the time and expense of probate and ensure that the property is transferred according to the grantor’s wishes.

A lady bird deed is often an ideal method of transferring real estate if there are only one or two grantees. Care has to be taken however where one or more of the recipients of the property have difficulty getting along with the other recipients. This can sometimes lead to disagreements regarding whether to keep or sell the property. In situations where all of the recipients get along however, a lady bird deed can be a very useful estate planning tool.

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The estate planning attorneys of Penzien & McBride, PLLC have been helping families and business owners with their estate planning needs for more than two decades. If you are looking for a compassionate professional that can help you through the estate planning process, conduct a review of your existing estate plan, or if you would like additional information about our services, give us a call at (586) 690-4400 or complete our contact us form