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Protect Your Real Estate Investments
The Strategic Use of Ladybird Deeds with Perez-Roura Law
Protecting your real estate for your loved ones is one of the most critical steps in estate planning. At Perez-Roura Law, our attorney, Pedro A. Perez-Roura, recognized as a Super Lawyers Rising Star, helps families, business owners, and investors utilize innovative legal tools, such as Ladybird Deeds, to secure their legacy.
A Ladybird Deed (also called an enhanced life estate deed) allows you to keep complete control of your property during your lifetime while transferring it directly to your chosen beneficiary after your passing without the delays and costs of probate. This makes it a powerful tool for Florida homeowners, business owners, and real estate investors seeking a flexible, streamlined estate planning solution.
Case Study: Streamlining Inheritance with a Ladybird Deed
(Client details have been modified for privacy)
Maria S., a successful insurance broker, came to Perez-Roura Law worried about how probate might impact her estate. We recommended incorporating Ladybird Deeds for her primary and vacation homes. This strategy allowed Maria to:
- Keep complete control of her properties during her lifetime.
- Ensure a smooth transfer of assets to her children.
- Help her heirs avoid probate, saving time and money.
By planning, Maria ensured her legacy would be protected exactly as she intended.
FAQs About Ladybird Deeds in Florida
Q: What are the main advantages of a Ladybird Deed?
A: Key benefits include avoiding probate, keeping complete control of your property during life, and flexibility to change beneficiaries or sell the property without their consent.
Q: Are there any downsides to a Ladybird Deed?
A: Practically, while you can sell the property without a beneficiary’s consent, some buyers and title insurers may still request the beneficiary’s signature for added protection.
Q: Do Ladybird Deeds provide tax benefits?
A: Yes. They often allow for a step-up in basis at the owner’s death, reducing capital gains taxes for beneficiaries. Additionally, they are not considered a completed gift, thereby avoiding gift taxes.
Q: Are Ladybird Deeds recognized in all states?
A: No. Only certain states recognize Ladybird Deeds. In Florida, they are a valuable planning tool when used under the guidance of an estate planning lawyer.
Take the Next Step
If you are a Florida homeowner, investor, or business owner, a Ladybird Deed could be a smart way to protect your property and loved ones. At Perez-Roura Law, we provide personalized guidance to help you decide whether this tool is right for your estate plan.
📞 Call us today at (305) 570-3259 or fill out our online form to schedule a consultation.