Lady Bird Deed or Revocable Trust for Your Florida Home?
A Lady Bird deed is usually the simplest, lowest-cost way to pass a Florida home outside probate when the plan is straightforward. A revocable living trust is often better when you want one plan for all your assets, have several beneficiaries or minors, or want a successor trustee to manage the home if you become incapacitated.
Pensacola families ask this question more than almost any other. Both tools can keep your house out of probate, and both let you keep living in, selling or mortgaging your home. The right choice depends on the rest of your plan.
How a Lady Bird deed works
A Lady Bird deed (also called an enhanced life estate deed) transfers your home to the people you choose at your death while you keep full control during your life. You can sell, mortgage, lease or change the beneficiaries without their signature. Because the transfer happens at death, the home generally keeps your Florida homestead exemption and Save Our Homes cap during your lifetime, and your beneficiaries typically receive a stepped-up income tax basis.
How a revocable trust works
With a revocable living trust, you deed the home to yourself as trustee. You keep the homestead exemption and full control. At your death, or if you become unable to manage your affairs, your successor trustee steps in under the instructions in your trust. The same document can also hold bank and brokerage accounts and property in other states.
Side by side
| Lady Bird deed | Revocable trust | |
|---|---|---|
| Avoids Florida probate for the home | Yes | Yes, once the home is deeded to the trust |
| Up-front cost | Lower | Higher; covers more assets |
| Manages the home if you're incapacitated | No; you need a durable power of attorney | Yes, through your successor trustee |
| Minor or special needs beneficiaries | Poor fit | Good fit; can hold property in trust |
| Several beneficiaries who may disagree | They inherit as co-owners | Trustee can sell and divide proceeds |
| Covers other assets | No; the home only | Yes |
Common mistakes we see
- Naming a single child and expecting them to share with siblings
- Naming a minor, which can require a court guardianship to sell
- No backup beneficiary if the person you named dies first
- Relying on a Lady Bird deed but having no durable power of attorney for incapacity
Many of our clients use both: a revocable trust as the core of the plan and a Lady Bird deed naming the trust as beneficiary, or a Lady Bird deed paired with a Florida durable power of attorney. Learn more on our Lady Bird deed page or our revocable living trust page.
Talk with a Florida estate planning lawyer
Trusted Elder Law & Asset Protection helps families in Pensacola, Escambia, Santa Rosa, Okaloosa and Walton counties plan ahead. Call 850-607-2222 or schedule a free Peace of Mind Strategy Session.
This article is general information about Florida law, not legal advice for your situation.
