A revocable trust, also known as a living trust, is a document, like a will, that provides instructions for distributing your assets after your death. A recovable trust allows you to avoid probate.
While this will not allow you to avoid estate taxes or protect your assets from creditors, it is often the easiest way to distribute assets.
How to Register a Recovable Trust in Florida
Decide whether to register. In Florida, registering a living trust is optional, and you may want to consider filing nothing in order to protect your privacy. There is little benefit to registering the trust, since the court has no jurisdiction to resolve disputes relating to the trust, registered or not, until an interested party files a suit disputing the trust with the court.
Decide what to file. If you do decide to register your living trust with the court, you should decide what information you are going to make available. You are not required to file all of the trust documents with the court. You can instead file a one page document listing the grantor(s), the names of the trustees, the trustees' acceptance of their responsibilities and the date of the trust document.
Prepare the document to be filed. Prepare a neat and accurate document listing all of the information relating to the trust that you wish to file with the court.
Contact the probate court in your jurisdiction. Contact the register of wills to determine whether there is any information sheet that you need to complete or any filing fee. This will allow you to file the document by mail and avoid a trip to the courthouse.
Mail all required documents to the court including the required fee. In a few weeks, follow up to be sure that all documents were received and have been appropriately filed.
Revocable trusts are especially beneficial in Florida where the probate process is notoriously long and burdensome.
- emphasis on trust in god image by Pix by Marti from Fotolia.com