Navigating Deed Protection and Estate Planning: The Magic of the Ladybird Deed

Elder Law Report

Ever wondered about the most effective ways to protect your home deed and navigate the often complex world of estate planning? Prepare to pull back the curtain on the realities of transferring property into your child's name, as we analyze the potential pitfalls of such a decision and the significant capital gains tax bill it could generate for your loved ones.
In this engaging dialogue, we unpack the magic of a tool known as a Ladybird deed, or an enhanced life estate deed, that allows you to maintain control of your property and seamlessly transition it to a loved one upon passing, all while sidestepping the probate process. We also take an intriguing look at the look-back period for long-term care Medicaid, offering invaluable insights to guide your decision-making process. So, buckle up, and get ready for an enlightening journey through deed protection and estate planning.