Legal Question in Wills and Trusts in Florida

They need to create a Revocable Trust in their state of residence/domicile. They should include both the NC and FL properties in the Trust to avoid probate proceedings. In FL, putting your home in a Trust does not void your "homestead exemption." Let me know if I can be of further assistance.

The Trust should be from the State of residence. It can include realty from both States, but it should be reviewed by attorney's from both States to make sure the realty is properly in the Trust.

One trust can do it all.

A "one state" licensed attorney is all that is necessary. As discussed below, I would suggest that a Florida attorney draft the trust unless North Carolina has a special financial benefit important to your parents for being a resident.

I regularly suggest that clients in your parents' dual state setup to spend at least 6 months + 1 day in Florida to get the homestead exemption benefits: property tax deductions and creditor protection. To preserve the homestead exemption, the trust will need to have certain language in it. It is these homestead benefits that bring snowbirds to live in Florida during the majority of the year.

You can do almost anything with the terms of a trust. For flexibility sake, the trust can even say which state's law governs and when.

Whichever attorney your parents choose, you will still need an attorney licensed in the other state to draft a deed to fund or "put in" the real estate into the trust. Deed drafting fees are small compared to the trust.