Richards’ Article on the Benefits and Challenges of the Ladybird Deed Featured in Urban Aging News

The latest issue of Urban Aging News features the article “Leaving Real Property to a Loved One Without a Will or Trust,” written by Norman (Gene) Richards. In this insightful article, Mr. Richards’ provides an overview of the ladybird deed, along with the benefits and challenges that come with that method of transferring property when a person dies. While the ladybird deed may be ideal in some instances, it can result in unexpected problems, including a potential conflict if the property is owned by multiple beneficiaries after the grantor’s death, loss of protection for a vulnerable beneficiary, and/or confusion over what happens if a beneficiary dies before the grantor.

Urban Aging News is a quarterly publication that provides information, insight, and inspiration for Metro Detroit’s maturing adults. Check out the Urban Aging News Fall 2024 issue.

Norman E. (Gene) Richards is an attorney in our Livonia office where he focuses his practice on estate planning and elder law. He assists clients with the development of customized estate plans to address their specific needs, including family owned businesses, senior adults concerned about long term care needs, and special needs trusts for children with special needs. He may be reached at (734) 261-2400 or nrichards@cmda-law.com.