What are the disadvantages of Lady Bird Deeds?
While Lady Bird Deeds offer many benefits—like avoiding probate and keeping control of your property during your lifetime—they may not be the right choice for everyone. Depending on your goals, a will or other estate planning tools might be more suitable.
Here are some potential disadvantages and dangers of using a Lady Bird Deed:
1. Limited to Real Estate
A Lady Bird Deed only applies to real property—like your home or land. If you want to transfer other assets (bank accounts, personal belongings, vehicles, etc.), you’ll still need a will or trust. (Albeit, in some states you may be able to transfer vehicles through a Lady Bird Trust as well.)
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