Michigan is one of the growing number of states that recognize the use of a lady bird deed (also known as an enhanced life estate deed). It is a great estate planning tool for transferring real estate upon death, as it is simple and inexpensive.
A lady bird deed transfers the life estate in real property to yourself and upon your death the property passes to the beneficiary of your choosing. In plain language, it means that you get to use the real property while you are living, you can even sell, mortgage or change the beneficiary of your real property, and when you die, if you still own the property, it transfers to the named beneficiary.
Benefits of a lady bird deed:
So why not consider using a lady bird deed?