In Florida should you put your home into your trust?
In Florida, we recommend an enhanced life estate deed a/k/a a lady bird deed to transfer your home to your trust.
Ed: I have a question regarding the correct titling of a home. Both my wife and I have trust in our own names and we're going to flip the information regarding the title of the home. Some say it should be in the name of the trust, some say not.
Attorney Tom Olsen: That's been a debate that's been going on for a long time, Ed. Ed, we've come up with a third option and we use a Lady Bird Deed, Ed. The Lady Bird Deed states that as long as you or your wife are alive, the home remains in your individual names. Then only once you have passed away would the home automatically go to your trust. We think this Lady Bird Deed is a perfect solution for handling that problem, Ed. I'm familiar with what you're talking about.
Ed: I've heard of that before and now that you've verified it, I think that's what we're going to do. I thank you very much.
Attorney Tom Olsen: Okay, Ed. Let us know if you want some help with that.