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MIAMI ELDER CARE LAWYERS
Fear of impoverishment due to the need for long term care is our client's greatest concern. They come to our firm with tremendous financial and medical problems. Our goal is to help them get good care that is affordable without losing their life savings.
LADY BIRD DEEDS - Useful drafting techniques.
The following video series is to articulate The Fund’s position regarding the use of Lady Bird Deeds, discuss some useful drafting techniques, and lastly raise some issues which are of concern to attorneys who regularly draft Lady Bird Deeds.
LADY BIRD DEEDS - What is it?
Lady Bird Deeds, also known as Enhanced Life Estate Deeds, have seen an increase in popularity in the last 20 years, primarily in the areas of estate planning and elder law. Along with the increase in the number of attorneys using Lady Bird Deeds, there has been an increase in the creativity of drafting techniques.
LADY BIRD DEEDS - The Fund’s Position
The Funds’ position regarding judgments against the life tenant or remainderman, death of the remainderman prior to the life tenant, homestead, and elective share.
LADY BIRD DEEDS - Practical Applications
The typical Lady Bird Deed scenarios include a husband and wife retaining a life estate, with the remainder to children upon their death.
LADY BIRD DEEDS - Unresolved and Contentious Issues
While the use of Lady Bird Deeds can be effective in certain types of estate and elder law planning, its use has several drawbacks as well as title insurance issues. In the absence of statutory, case law and regulatory authority, several open and contentious issues remain to be resolved. Therefore, practitioners should consider other options before using a Lady Bird Deed. Also, if insurable title is important, an attorney should check with The Fund before drafting a Lady Bird Deed.
MONDSCHEIN & MONDSCHEIN
In February, 2014, Leonard E. Mondschein, J.D., LL.M, CAP, from The Elder Law Center of Mondschein and Mondschein, P.A., prepared a program and taught these new lawyers about probate and guardianship procedure regarding Special Needs Trusts.
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