Probate FAQ: How does a Florida revocable trust work with a Florida estate or probate?
Wondering about the difference between a revocable trust and a Palm Beach probate? Or a Delray Beach trustee versus the executor of the will? There is a new, free, online video on this frequently asked question: how does a revocable trust work with a Florida estate? If you are a beneficiary of a trust, or the trustee of a Boynton Beach trust, or maybe the Florida Personal Representative of a probate going on in Delray Beach, Florida courthouse, you may want to read this and watch this probate video.
Revocable Living Trust & Probate (Estate Administration)
- A trustee runs a trust
- An executor runs an estate
- An estate which is run or administered formally under the supervision of the Palm Beach County probate court is called a “probate”
- An executor of a will is called the Personal Representative of the estate or probate
- A will is the important document for the estate or probate; and the will may leave the property to a person’s revocable trust, also called a revocable living trust
- The trust document, including any amendments or “restatements” of trust, is the governing document for the trust, and sets forth the interests of the trust beneficiariesas well as the fiduciary duties of the co trustees or trustee
Understanding Palm Beach Probate & Florida Revocable Trusts
- Read the Florida Probate Code to help understand the law of estate administration in Florida
- Read the Florida Probate Rules to help understand the rules and law for theadministration of a Palm Beach probate
- Read the Florida Trust Code to learn of trustee’s duties and obligations to beneficiaries of a Florida trust
- Consider this common scenario: your mom who lived in Boca Raton just passed away and had a will and revocable trust. Her will names her probate lawyer Delray Beachas the Personal Representative of the estate but she declines to serve. The alternative executor or the successor personal representative is YOU. YOU hire a probate lawyerBoca Raton to assist you get appointed by the Delray Beach probate court as the Personal Representative. You can then run or adminster your mom’s estate
- But you learn that there are very few assets in your mom’s probate estate
- Most of mom’s property and money was in her revocable trust, which is nowirrevocable.
- Mom’s sister from Palm Beach Gardens, Florida was named the successor trustee.
How do you, as executor of the will, work with the trustee of mom’s revocable trust?
Answer: http://www.youtube.com/watch?v=ncAGLam9tto&feature=youtu.be