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Currents
April 2019
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“ HAPPY EASTER & PASSOVER”
Mon., Apr. 22, 2019
children files for bankruptcy, has an adverse judg-
ment or files for divorce, your property could be sub-
ject to liens or other legal action.  Therefore, I recom-
mend against a Deed with your children as joint ten-
ants with right of survivorship.
The second option is a Life Estate Deed.    There
are two types of Life Estate Deed: regular and
Enhanced (also referred to as Lady Bird).  The regu-
lar Life Estate Deed requires that your children join in
any sale or other changes on the Deed; therefore,
you have lost control and cannot take your child’s
name off the Deed if you choose to do so.    The
Enhanced Life Estate Deed gives you the sole right
to sell the property during your lifetime or make any
other changes to the Deed without the permission of
your child.  The Enhanced Life Estate Deed has very
specific legal language in order to be effective; there-
fore, do not attempt to do this on your own.
Even with the Enhanced Life Estate Deed, there
are risks, particularly if your child has a bankruptcy,
outstanding judgment or undergoes divorce.    The
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