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A Living Estate Deed serves as an estate planning tool that enables property owners to transfer their real estate while maintaining control during their lifetime. This document type is commonly used in the United States when individuals wish to avoid probate or ensure smooth property transition after death. The Living Estate Deed creates two distinct interests: a life estate for the current owner and a remainder interest for the beneficiary. It must be properly executed according to state law requirements and recorded in the appropriate jurisdiction. This arrangement can help reduce estate tax implications while providing security for both the grantor and grantee.
