Legal Question in Wills and Trusts in Florida

A Will is a document made by someone to direct where assets are going to go, and who will administer it, upon their death, in a probate proceeding. Probate is required when someones assets, upon their death, does not know who would then own them, except by looking at the Will.

If assets are owned jointly, in trust for, or in a trust, as an example, then you would not have to look at the Will to determine ownership, and they would not go through probate. The Will wouldn't have an effect on them.

A Trust is a document that is created usually for one of four reasons. One of them is to avoid probate.

Now you wrote about Irrevocable Trusts. Usually they are Revocable, meaning the person creating the Trust (Settlor or Grantor) can change it. Irrevocable means the Settlor or Grantor cannot. The reason for an Irrevocable Trust typically would be for tax purposes or under some provision requiring such a device (which is not very common).

As to dieing together, the law always presumes one survives the other, even if they die simutaneously, unless a Will or Trust modifies this to the contrary.

For further answers, I highly recommend you consult with an Estate Planning Attorney. This is a very complicated area of law. If I can be of further assistance, please let me know. 954-752-1732.