A Lady Bird deed is a deed that allows a real property owner to transfer ownership of the property to another person or entity while continuing to use and control the property.

In some states a Lady Bird deed may be used as an estate planning tool, allowing the owner to make a lifetime gift of the property; avoid federal gift taxes (because it is an incomplete gift and is not final); avoid probate; qualify for Medicaid benefits; and continue to live in their private home after transferring ownership (title) of it to another person or entity.

A Lady Bird deed may also be referred to as an enhanced life estate deed, as it effectively gives the owner a life estate interest in the property while transferring ownership (title) to another person or entity.

Laws vary from state to state, but a Lady Bird deed may also allow the owner to continue to have complete control of the property, without input from the grantee under the Lady Bird deed. This may include the owner’s right to change their mind and sell or transfer the property to another person or entity, or to make changes to the property.

In Indiana, Lady Bird deeds are not recognized under state law. Indiana does not have specific statutes authorizing the use of enhanced life estate deeds, which means that traditional estate planning tools such as wills, trusts, and standard life estate deeds are typically used to manage and transfer property. Property owners in Indiana looking to avoid probate and address other estate planning concerns may need to consider alternative methods such as establishing a revocable living trust or utilizing joint ownership with rights of survivorship. It's important for property owners to consult with an attorney to explore the estate planning options that are valid and most beneficial for their specific circumstances in Indiana.