A Florida Lady Bird Deed, also known as an Enhanced Life Estate Deed or an Enhanced Beneficiary Deed, is a legal instrument used in Florida for estate planning and real estate purposes. This type of deed is designed to help individuals retain control of their property during their lifetime while also facilitating the efficient transfer of the property to designated beneficiaries upon their death, all while avoiding the probate process.   Here are some key features and benefits of a Florida Lady Bird Deed:   Lifetime Ownership: The grantor (property owner) retains full ownership and control of the property during their lifetime. They can sell, mortgage, or transfer the property without needing the consent of the named beneficiaries.   Avoidance of Probate: One of the primary purposes of a Lady Bird Deed is to bypass the probate process, which can be time-consuming and expensive. Upon the grantor’s death, the property automatically passes to the named beneficiaries without the need for probate court involvement.   Flexibility: The grantor has the flexibility to change or revoke the Lady Bird Deed at any time during their lifetime. They can add or remove beneficiaries or change the terms of the deed as their circumstances evolve.   Medicaid Planning: Lady Bird Deeds can be useful for Medicaid planning purposes. The property does not become a countable asset for Medicaid eligibility purposes until the grantor’s death, allowing them to potentially qualify for Medicaid benefits while retaining their home.   Step-Up in Basis: For federal income tax purposes, the beneficiaries of a Lady Bird Deed receive a stepped-up basis in the property to its fair market value at the grantor’s death. This can minimize capital gains tax liability if the beneficiaries decide to sell the property.   Creditor Protection: The Lady Bird Deed provides some level of protection against the grantor’s creditors, as the property is not considered part of the grantor’s probate estate.   The unique feature that distinguishes a Lady Bird Deed from a traditional life estate deed is the ability to retain control and make changes to the deed during the grantor’s lifetime. This flexibility can be particularly valuable for individuals who want to maintain control over their property while also ensuring a smooth and cost-effective transfer to their beneficiaries upon their passing.   It’s important to note that Lady Bird Deeds are specific to Florida law and may not be recognized or available in other states. Anyone considering using this type of deed should consult with an attorney experienced in Florida real estate and estate planning to ensure that it aligns with their specific goals and circumstances. Additionally, the laws and regulations related to Lady Bird Deeds can change over time, so it’s essential to seek up-to-date legal advice when considering this estate planning tool.