Avoiding probate can save time, money, and stress for heirs. In Orlando and across Florida, homeowners have several legal strategies to transfer property without going through probate court. As a Central Florida real estate attorney, Mr. Hennen often assists clients structure their estate plans to ensure a smooth transition of assets. Here’s what you need to know about avoiding probate when transferring real estate.
Why Avoid Probate?
Probate is a court-supervised process that can be:
- Time-consuming – Probate proceedings often take months or even years.
- Expensive – Attorney fees and court costs can reduce the estate’s value.
- Public – Probate records are accessible to the public, reducing privacy.
Using one or more of the strategies below can help homeowners in Orlando and throughout Florida transfer their property more efficiently.
- Lady Bird Deed (formerly known as an Enhanced Life Estate Deed)
A Lady Bird Deed is one of the best tools for avoiding probate in Florida.
- It allows homeowners to retain control over their property during their lifetime.
- The property automatically transfers to the named beneficiary upon death.
- The homeowner can sell, mortgage, or change beneficiaries at any time during their lifetime.
This is an ideal option for homeowners who want flexibility while ensuring their heirs avoid probate.
- Revocable Living Trust
A revocable living trust is another common way to transfer property without probate in Florida.
- The homeowner transfers property into the trust while alive.
- The owner serves as the trustee, retaining full control.
- A successor trustee is designated to handle the property upon death.
- The property bypasses probate and goes directly to the beneficiaries.
This option is great for those with multiple assets or complex estate planning needs beyond just a single property.
- Joint Ownership with Right of Survivorship
For properties owned by multiple people, joint tenancy with right of survivorship is an effective way to avoid probate.
- When one owner passes away, their share automatically transfers to the surviving owner(s).
- This applies to married couples (tenancy by the entirety) and co-owners (joint tenancy).
- It ensures a seamless transition without court involvement.
However, this method does not allow the deceased owner to designate alternate heirs outside of the surviving co-owner(s).
- Payable-on-Death (POD) Designations for Bank Accounts
While not for real estate, using POD designations on bank accounts ensures that funds transfer immediately to beneficiaries, keeping liquidity available for estate expenses and property upkeep.
Which Option is Best for You?
Choosing the best strategy depends on your specific financial situation, family structure, and future plans. While a Lady Bird Deed is an excellent solution for many homeowners, a revocable trust may offer additional protection and flexibility.
Final Thoughts
If you’re a homeowner in Orlando or Central Florida, planning ahead can save your family from the complications of probate. Consulting a qualified real estate attorney ensures you choose the right method for your estate plan.
Need help transferring property without probate? Contact Hennen Law PLLC today at 407-203-1102 for a consultation to explore the best solution for your estate planning needs.
