A life estate deed is a legal document that changes the ownership of a piece of real property. It is a form of property ownership that splits control and ownership of a property. The person who creates the life estate for their home and assets is known as the life tenant. Though the tenant retains control of the property, they share ownership during their lifetime with the remainderman, a legal term referring to the estates heir. The life estate deed is completed when the owner of the property signs the document and it is filed with the county. The life estate deed is a way of transferring ownership of real property, where the owner signs a deed that will pass the ownership of the property automatically upon their death to someone else, known as the "remainderman". As part of the deed, the owner keeps what is called a life estate, which means they can continue to live on and use the property for the rest of their life. The life estate helps avoid the probate process upon the life tenant’s death, and the property will automatically transfer to the remainderman, making the process simple and easy – a will isn’t needed for the transfer to happen. Life estates are valuable options for some families seeking to simplify the estate planning process.