Should you add your child's name to your deed?

The caller wants to avoid probate AND maintain complete control over his property. Therefore, he should NOT add his child's name to the deed. Instead, he should us an enhanced life estate deed a/k/a a lady bird deed.

Attorney Tom Olsen: Frank, you're on News 96.5. Go ahead.

Frank: Hi. I was calling, I own a piece of property in New Smyrna Beach. I was wondering by putting my daughter's name on it, that can pass on to her with no problems, and at the same time, I want to retain control of the property while I'm in it.

Attorney Tom Olsen: All right. Frank, we have a perfect tool for you. It's called a lady bird deed. It's a deed that I would prepare. It would state that as long as Frank is alive, it is his home to do with as he pleases. No restrictions whatsoever, but that upon Frank's death, that property would automatically go to daughter. No headaches, no hassles, no probate. Frank, I do not want you to add her name to the deed to your property. Do not do that, but do a lady bird deed. We'd be happy to help you out with that, Frank.

Frank: That sounds good.

Attorney Tom Olsen: Call us next week. The Olson Law Group in Orlando. It's called a lady bird deed is a tool for avoiding probate on real estate. Whether it's your home, your rental property, or investment property, commercial property, whether even if you got a mortgage on a property, it is a great tool for avoiding probate on real estate, and that's what people want to do these days.