FAQ Friday: Life Estate Deeds

On Friday, February 28th, Attorney, Candice Joy talks about life estate deeds.

There are two types of life estate deeds that are commonly used with estate planning.

The first type is if you want to name someone that would receive the home when you pass, essentially naming a beneficiary for your home. You still keep complete control over your home, including the ability to sell, in the meantime.

The second type is almost the opposite. It does include the ability to name the beneficiary once you pass, however it also removes some powers from the grantor in the meantime. The reason you would do this would be for advanced elder law planning.

Our attorneys at the Law Office of Steven M Berger can help you determine what would be best for your plan.

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