Life Estate Deed: Pitfalls and Considerations
Deidre M. Baker Nassau Lawyer, Vol 69 No. 7 “Life Estate Deed: Pitfalls and Considerations” March 2020
Clients commonly seek the advice of an elder law attorney so that they can protect and preserve their assets for their loved ones. Often, a client’s largest asset is his or her home. There are a variety of estate planning tools available to accomplish the client’s goal of protecting his or her home while ensuring that it is left to his or her loved ones. One such tool is a life estate deed. Although a life estate deed has its benefits, the attorney must also consider its drawbacks in relation to the client’s personal circumstances before determining if it is the best plan for the client.
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