If you’re talking to a friend and they tell you they have a way you can transfer your house to your kids when you die and avoid probate, that sounds pretty good, right? They’ll tell you it’s simple, all you need to do is go online and search for Ladybird Deed. While a Ladybird Deed might seem like a straightforward solution, DIYing it can have serious unintended consequences.
Think about it: if you have multiple children, a Ladybird Deed makes them co-owners. This 'ownership by committee' can quickly turn into a nightmare. Imagine constant disagreements about maintenance, sales, and even who gets to live in the house. Resolving these conflicts often leads to costly and emotionally draining litigation.
Don't let your desire to save a little money now jeopardize your children's future. Consult with a qualified estate planning attorney in Ann Arbor to explore all your options and ensure a smooth and harmonious transition of your assets.
Learn more about the unintended consequences of DIY Ladybird deeds here.
Contact an Estate Planning Attorney in Ann Arbor to Help You!
Regardless of your stage in life, consult an estate planning attorney in Ann Arbor to create your estate plan with a will and a trust. With the help of an experienced estate planning attorney at Pear Sperling Eggan & Daniels, P.C, you can rest assured that your assets will be easily located, managed, and passed to your loved ones.
