HOW A LADYBIRD DEED WORKS

The basic idea behind the Lady Bird Deed in Florida, is that it allows the property to pass outside of probate after the initial owner passes away. It also provides that the initial owner (that we’ll call the life estate holder or life tenant) can (a) change their mind as to who should receive the property before their passing and (b) do whatever they want with their property without having to consult or get the permission of the listed remainderman, even if it means eliminating their eventual ownership interest. This can be done because the remainderman have a vested interest that is subject to being divested. 

Besides Florida, only Michigan, Texas, Vermont and West Virginia offer Ladybird Deeds.