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Living Trusts: The Basics

Sep 28, 2018 - Trusts by

In Florida, a living trust works like this: You sign an agreement transferring your assets to a trustee. The person who owns the assets can also serve as the trustee. In many cases, the person creating the trust designates a bank or other independent professional to serve as trustee. That allows the trustee to manage the trust and pay expenses in the event that you become incapacitated. The arrangement can be crafted to allow you to access assets and withdraw money at any time. It can also be made revocable. The trust agreement explains how the assets should be distributed […]

Key Differences Between Probate and Trust Administration

Sep 14, 2018 - Probate by

There are a number of ways in which people can decide how they want to distribute their assets to loved ones and others in the event of their death. Each option comes with different features and legal requirements. Generally, when a person dies in Florida, his or her property will be distributed either through the probate process or the administration of a private trust. If you execute a will, a court will review and enforce the legal document in the probate process. If you create a living trust, your assets will be distributed privately by a trustee of your choosing. […]