There are numerous ways real estate can be transferred to avoid probate, but which way is best will depend on the circumstances. The most common choices are either a deed of gift, transfer on death deed or a Ladybird deed (which is an enhanced life...
If you have recently recorded a deed with the county clerk (and perhaps even if you haven’t), don’t be surprised if you get a letter that looks very official stating that they will provide you a copy of your deed (usually for a little more...
At our December estate planning workshop, there were several questions about the use of enhanced life estate (“Ladybird”) deeds to protect a Medicaid recipient’s homestead from the state’s Medicaid Estate Recovery Program (“MERP”). After the death of the Medicaid recipient under present laws in Texas,...
Many elder law attorneys have pondered whether to use the traditional enhanced life estate deed (also known as a Ladybird Deed) or the new statutory Transfer on Death Deed since both work to avoid estate recovery – the right of the government to make a...
Senate Bill 462 (companion bill) has been introduced so that new rights are not granted to the Medicaid Estate Recovery Program that would have occurred if the Transfer on Death Deed Act bill passes. As previously mentioned in the January issue of the Texas Elder...
Ladybird deeds, which are commonly used to avoid probate and to avoid claims by the state if the property owner receives Medicaid benefits, are under attack. This is a red flag to all Texans whose biggest asset is their home and who have inadequate insurance...
