One of the main purposes of revocable living trusts in Florida is to avoid probate upon your death. However, a North Fort Myers, Florida attorney who handles probate and estate planning will tell you that complete probate avoidance will not be easy.
Under ideal circumstances, all property that has been transferred per a living trust will avoid probate. When you die, the trustee will transfer ownership of the property to your beneficiary, as stated in your trust document. When ownership of all property has been transferred according to the terms set forth in the document, the trust will cease to exist.
Difficulties with Living Trusts
Any assets that were not in the trust and are subject to probate would still be probated.
If the trust is not properly funded, you won't be able to avoid probate, which can last for months and often entails:
- identifying and inventorying property;
- getting property appraised;
- paying taxes and debts; and
- distributing property according to your will or Florida law.
It would be best that you speak with a North Fort Myers, Florida attorney if you are seeking a living trust with the goal of avoiding probate. An attorney can help you make decisions that would be best for you and your beneficiaries.
Help from a North Fort Myers, Florida, Attorney is Just a Phone Call Away
North Fort Myers estate attorney Matthew A. Linde understands firsthand the importance of careful estate planning and the complexities of financial legal matters, such as probate, tax litigation and guardianship. For help with living trusts, contact our Fort Myers office to schedule a one-on-one meeting with a professional who can answer your questions - 239-939-7100 or 844-764-5492.