Why Estate Creditors Can Get Paid From a Florida Revocable Trust
If you’re owed money by somebody in Florida who’s passed away you’re a creditor and you have to file a statement of claim in the estate, but the estate may not be opened up. Also, you may be able to get paid from the person’s revocable trust also called a Florida Living Trust or Florida Revocable Living Trust. Why is that? The very nature of a Florida revocable trust says, “Hey I’ve got my assets I’m giving it to my beneficiaries but trustee pay my debts, pay my expenses.” A person’s credit card bills, funeral expenses, last expenses that were incurred before they died, that gets paid for from the revocable trust. One, you need to know that, two, you need to know who the trustee is and three, you need to know how to get paid in Florida.