BIRD TALK

In your spring CSA News, there was a question about Florida property ownership which addresses the Florida Ladybird Deed. My wife & I are joint owners of property in Florida. We had a Florida lawyer draw up a document making our two sons Durable Power of Attorney of our Florida property upon our demise. In layman’s terms, would we still require a Florida Ladybird Deed, or another document, or would our Canadian will (of which our two sons are trustees) be sufficient? This can be a confusing topic – and controversial, depending upon whom you talk to.

Ed DeJong
Camlachie, ON

Ed.: The authority under a power of attorney ceases upon the passing of the person who created the POA. Thus, there is some confusion in your suggesting that it would be effective ‘upon our demise’. Your Canadian wills would be sufficient and govern in your circumstances. If they are trustees in those wills, nothing “needs” to be done. Upon the passing of one of the parents, the property will go to the survivor without the need for probate in Florida and, upon the passing of the other parent, the property will go as provided in their will, not attracting capital gains tax.