Ladybird Deeds are also known as Enhanced Life Estate Deeds. A Ladybird Deed provides the maker the opportunity to retain a life estate in the homestead, which includes the power to occupy, rent, or sell, and upon the death of the grantor or maker, the property passes without probate automatically to the beneficiaries selected in the Ladybird Deed.
The Ladybird Deed does not impair or affect the homestead exemption in Florida nor does it affect benefits pertaining to Medicaid.
Ladybird Deeds are a common estate planning device in Florida.