A Lady Bird Deed

A Lady Bird Deed. Or a Lady Bird Trust.
You hear those terms tossed around as simple fixes for complex financial situations with aging parents.
But one is actually a misnomer.
And the other is very important but doesn't apply to as many things as some people expect.
Keith Leuty is a lawyer in Texas with Barnett & Leuty, P.C. He talks with Kim and Mike Barnes of Parenting Aging Parents about the Lady Bird Deed and why it can be so valuable for any home owner who wants to protect their assets and its piece in the puzzle that we call Medicaid.
A Lady Bird Deed is a type of life estate deed that transfers property without the need for probate. Lady Bird Deeds are currently only authorized in a few states including Texas, Florida, Michigan, Vermont and West Virginia.
If you're in another state you can see if your state offers a Transfer on Death (or beneficiary) Deed.
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If you’re looking for a way to gather and organize important information about your aging parents, check out The Caregiver’s Key - A Guide to Gathering Essential Information. It’s a way to keep everything together and will prompt you with questions you didn’t even know to ask.
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