Category: Wills and Trusts

To change your revocable living trust, first review the trust to see if there is a provision in the trust that pertains to amending/modifying the trust. If there is such a provision, then follow the steps outlined in the trust. If there are no instructions in the trust pertaining to amending the trust, then Florida…

A revocable living trust is a trust where the settlor (the creator of the trust) has control over the assets in the trust during the settlor’s life. The trust is considered revocable because the trust can be changed or revoked at any time by the Settlor during the Settlor’s life. Florida law does not provide…

Unlike a revocable trust, in Florida, an irrevocable trust cannot be amended by the settlor (the creator) of the trust. Irrevocable trusts tend to be difficult to amend. They can only be amended in limited ways, such as the following:

Setting up a revocable living trust will require you to name a trustee. The trustee can be the creator of the trust (aka the settlor, trustor, or grantor) or the settlor can name someone else trustee. A beneficiary of the trust can be the trustee of the trust – this is very common with family…

A revocable living trust is a trust where the settlor has control over the assets in the trust during the settlor’s life. Once the settlor passes away, the trust becomes irrevocable and assets in the trust pass to the settlor’s beneficiaries named in the trust without the need for probate. The trust can be changed…

You bought a property before you were married, so your marital status on the deed to the property is “single.” Later, you get married and you do not add your spouse to the title of the property. What happens to the property when you die? In Florida, if your spouse was never added to title,…

When someone passes away in Florida, their real property can only be sold by someone with the authority to sell it. Authority to sell real property depends on many factors, including the following: Homestead – If the property was homestead and the deceased was married or had minor children at the time of death, then…

Moving real estate into an irrevocable trust can be a smart move depending on your assets, creditors, beneficiaries and other circumstances surrounding your estate. An irrevocable trust can provide anonymity, avoid probate, and provide creditor protection. While there are some good reasons to move real estate into an irrevocable trust, there are cons that you…

There are important differences between revocable and irrevocable trusts. Knowing the differences will help in deciding the type of trust that works best for your situation. Some of the most important differences between revocable and irrevocable trusts are as follows: • Revocable trust o Ownership of assets – Settlor retains ownership of trust assets in…

It is very common for attorneys, financial gurus, and others to recommend a trust to everyone. Trusts are often recommended as a one-size fits all way to pass property to beneficiaries while avoiding probate. A revocable living trust is the most commonly recommended trust and it is genuinely a good instrument to pass property to…