Q: I have a question about a property deed. We are getting up there in age, and we are trying to put everything in order for our kids. Is it better to have a Lady Bird deed or a life estate on our house? — Diane
A: There is no “best” way to plan for your entire estate or just a single property. Each family’s situation is different, so they must explore the best way for their circumstances.
Many planning tools, such as life estate deeds, living trusts, joint tenancy, and wills, might work best for your family. The main gist of estate planning is ensuring that your savings and assets go to your kids instead of your creditors when you pass away.
