Legal Question in Wills and Trusts in Florida
How does one set up a TRANSFER UPON DEATH document for property?
3 Answers from Attorneys
You seek legal advice to get it done properly. You don't mention whether you are talking about personal or real property, each may be handled differently. Also, you could use a trust vehicle to include all such assets. The method to be used depends on the assets and value of those assets.
If it is real estate-have an attorney create a life estate deed
If it is a financial account-the finaancial institution can assist you.
IF you have a home and you want to transfer it upon your death, then have the attorney prepare a "Lady Bird" deed. The difference between this and the Quit-claim is that under the Lady Bird, the grantor remains the owner of the property and can even sell without the permission of the beneficiary. Under a quit-claim deed, both parties must agree to a sale and the quit-claim puts the other person as immediate owner of the property. If I can be of help, contact my office.