A Lady Bird Deed gives you full control of your home while naming who gets it automatically when you die. This document allows you to avoid probate. If you are looking into this option, you need to understand the technicalities before you proceed.
Is this option available to New Jersey property owners?
Unfortunately, New Jersey does not formally recognize Lady Bird Deeds. While it is highly popular in states like Florida, Michigan, Texas, Vermont and West Virginia, traditional life estate is still the standard option in New Jersey. If you insist on drafting one, the state will not recognize it and your home will still go through probate or face unexpected tax issues once you pass.
Other effective alternatives
Since Lady Bird Deeds are not a reliable option in New Jersey, homeowners in Bridgewater can use one of the following tools to achieve similar results:
- Traditional life estate deed: You can transfer the home to your heirs but maintain the right to live there indefinitely. However, once recorded, you cannot sell or mortgage without their written consent.
- Revocable living trust: You retain full control while alive and the property avoids probate upon death.
A New Jersey estate planning lawyer can help you choose the option that best aligns with your wishes.
Protect your family and your properties
Estate planning can be stressful when it involves the future of the people who matter most to you. But there is no better time to protect your loved ones than today. So have your paperwork ready and speak with a lawyer who can help you finish the process and protect your family.