Why Revocable Trust Beneficiaries Inherit Last
In Florida, many people, many Florida residents, have revocable trusts that become irrevocable when the creator of the trust dies. So if you’re the beneficiary of mom or dad’s revocable trust, you’re a beneficiary. You’re going to inherit. But not so fast. Be careful. Pay very close attention to the way your mom or dad’s estate is administered as well as their trust. Why? You inherit last. Uncle Sam gets paid the first, your mom or dad’s funeral expenses get paid, their credit card bills, their pool maintenance fees. All of their expenses get paid before you see a dime of your inheritance. Oh, and by the way, you know all those probate lawyers that are administering the estate and handling the trust? Yeah, they get paid before you do. That’s why you need to know what your rights are as a beneficiary of a Florida revocable trust.