The Myths and Reality of a Florida Revocable Trust
You probably have heard about a Florida revocable trust, sometimes called a Florida living trust. There’s pros and cons, and myths and realities.
The pros are that everyone’s using them, they are effective, they’re relatively inexpensive, and if you take your time drafting it with your trust lawyer, they can be easily understood.
What are the myths or the disadvantages of it? You don’t necessarily avoid probate in every instance. Two, you may be creating a trust after you’ve died, and you need to understand how your wealth is tied up and what beneficiaries may be interacting with each other.
Is it the answer to everyone’s estate plan? No, but it’s a great and integral part.