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A few years ago I converted my General Warranty Deed of my condo to an Enhanced Life Estate (or Ladybird) Deed for grand total of $20 DIY.. $10 to download the Florida state specific form and another $10 to file it with the county. An estate attorney could probably do all the legwork and filing for you for around $200-300. It's not that hard to do it all yourself if you follow all the instructions perfectly.
With both deeds your beneficiary will inherit the property directly without going through probate. The drawback to the regular Life Estate is you give up total control to sell or mortgage your property without your beneficiary signing off on it. With the Enhanced (Ladybird), you can change your mind without their approval. As was mentioned though, the Enhanced version is only available in a few states.
With both deeds your beneficiary will inherit the property directly without going through probate. The drawback to the regular Life Estate is you give up total control to sell or mortgage your property without your beneficiary signing off on it. With the Enhanced (Ladybird), you can change your mind without their approval. As was mentioned though, the Enhanced version is only available in a few states.