Lady Bird Deed

Lady Bird Deeds

How a Solid Estate Plan from Our McKinney Lawyers Can Help

An Enhanced Life Estate Deed or a “Lady Bird Deed” is a deed which can assist in accomplishing two main estate planning objectives:

  • Avoiding probate by passing property to a beneficiary upon the death of the grantor
  • Avoiding the “gift” designation under any Medicaid benefits

At the Willingham Law Firm, PC, we can assist you in creating this deed for your loved ones. We have also created a brief summary below to help you understand how a Lady Bird Deed works conceptually.

If you have questions, call our estate planning attorneys in McKinney, (214) 499-9647.

How Can a Lady Bird Deed Help You?

It is best to illustrate the benefits of this type of estate planning with an example. Mary and David are 78 and 80 years of age. Mary and David are financially struggling and only have a home to leave to their children, Bill, Kevin, and Melissa, upon their death. Their home is worth about $100,000. David and Mary live off Social Security and will be applying for Medicaid benefits soon.

Mary and David want to keep their home until they pass but really want to leave an inheritance to their children. If they were to gift their home and within five years apply for Medicaid benefits, then Medicaid’s fraudulent transfer rule would apply and the home would be subject to a Medicaid lien.

In this case, Mary and David do have options to keep power of their homestead, and to pass property to their children for an inheritance. A Lady Bird Deed gives certain ownership rights to children but allows parents to keep the power to sell, convey, mortgage, lease, and otherwise dispose of the property. In addition, both parents will retain the rights to revoke, amend, divest, replace, or change the homestead.

Through a Lady Bird Deed, Mary and David can secure an inheritance for Bill, Kevin, and Melissa. In addition, this transfer avoids probate so Bill, Kevin, and Melissa will not have to probate their parent’s home.

At The Willingham Law Firm, PC, our McKinney estate planning attorneys can assist you in creating the necessary documents to protect your loved ones. Contact us online today to schedule your free consultation.

EVERY CASE DESERVES CARE & ATTENTION

Read Recent Reviews from Our Clients
  • “He explored many options with us and explained and answered all of our questions. We would recommend him and the law firm to anyon ...”

    - Jeanne Meek
  • “My attorney took good care of me and got my Estate Plan in order quickly and thoroughly. The ladies that assisted in getting ...”

    - Celeste McNeil
  • “Taylor and his team are amazingly professional.”

    - Gail Hillman

Meet Our experienced Legal Team

Dedicated to Accomplishing Your Goals 
  • Taylor Willingham
  • Mark Auten
  • Carla Alston
  • Cindy Galvan
  • Kellianne Beechly
  • Samantha Gremminger
  • Amanda Schultz
  • Taylor Willingham Taylor Willingham

    Attorney

    McKinney Estate Planning Attorney Taylor Willingham is an experienced estate planning and probate attorney located in ...
    Taylor  Willingham Photo
  • Mark Auten Mark Auten

    Attorney

    Skilled Probate & Estate Planning Attorney Mark Auten is a licensed attorney in the State of Texas and an integral member of ...
    Mark  Auten Photo
  • Carla Alston Carla Alston

    Attorney

    Compassionate Probate Lawyer in McKinney Carla Alston is an attorney who strongly cares for her clients and their family. ...
    Carla  Alston Photo
  • Cindy Galvan Cindy Galvan

    Attorney

    Estate Planning & Probate in McKinney Cindy earned her law degree while maintaining a balance between law school and work. ...
    Cindy  Galvan Photo
  • Kellianne Beechly Kellianne Beechly

    Office Manager

    Office Manager at the Willingham Law Firm Kellianne Beechly is the Office Manager for The Willingham Law Firm, PC. Kellianne ...
    Kellianne  Beechly Photo
  • Samantha Gremminger Samantha Gremminger

    Elder Law Coordinator

    Elder Law Coordinator/Assistant Office Manager Samantha Gremminger is the Elder Law Coordinator and the Assistant Office ...
    Samantha  Gremminger Photo
  • Amanda Schultz Amanda Schultz

    Receptionist

    Receptionist at The Willingham Law Firm, PC Amanda Schultz is the receptionist for The Willingham Law Firm, PC. Her function ...
    Amanda  Schultz Photo

Contact the Willingham Law Firm, PC 

Preserve Your Legacy Today
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.