Legal Question in Wills and Trusts in Florida

Re: wills and trust

Both provide a person control of her assets, a trust is before death and a will is after death.

In a trust, a person transfers control of assets to a Trustee for the benefit of a defined group of people and purposes. In this instance your mother can establish a trust, move her assets into the trust, and then upon her death she (as the primary beneficiary) would be replaced by the secondary beneficiaries. The overall benefit of this is that a person avoids the need to probate a will.

It is important to note, that if a person with a trust dies without a will, her remaining assets are still subject to intestacy laws. So a will is still a good idea.

As for a will,the bequests in a will do not take effect until the testator dies and are relatively easily changed before death.

It is important to identify her needs with a little more detail before determining which course of action to take, both can be used to assist her.

I can provide assistance if you require it, please contact me via email if you wish to discuss this further.

Re: wills and trust

I agree with Warren, add that both documents (one taking effect during lifetime (trust) and one not taking effect until death (Will), provide for the disposition of assets. Usually they compliament each other. Florida law is quite complicated, and I encourage the creation of the trust, as if it is created properly huge benefits can be obtained, including elimination of the necessity of probate (a time-consuming and expensive process in Florida with mandatory retaining of an attorney), creditor protection, possible income and death-tax savings and other benefits. There is also a question about the Florida Homestead issue, which could also provide creditor protection and may still be available in a properly drawn trust document. I have many Florida clients who have trusts and I can assist you in this matter. If you need more information contact me directly.