A Florida revocable living trust holds your assets while you stay in control as trustee. Assets titled in the trust pass without probate. The parts that take effect at death must be signed like a will, before two witnesses (section 736.0403), and under section 736.0602 a trust is revocable unless its terms expressly say otherwise.
Many families come to a trust attorney for one reason: they want to spare their loved ones the time, cost and public nature of probate. A revocable living trust is the most common way to do that in Florida. It is also flexible, because you stay in charge of everything while you are alive and well.
What a revocable living trust is
A trust is an arrangement in which one person, the trustee, holds property for the benefit of others, the beneficiaries. With a revocable living trust, you usually wear all three hats at the start. You create the trust, you serve as your own trustee and you are the main beneficiary during your lifetime.
The trust document also names a successor trustee, the person who takes over if you become unable to manage the trust or after you die. That person then manages or distributes the trust property according to the instructions you wrote, without needing a court to oversee the process.
Revocable vs irrevocable trust
The difference comes down to control. A revocable trust can be changed or cancelled by you at any time while you have capacity. You can add or remove property, change beneficiaries or rewrite the terms entirely. An irrevocable trust, as a general rule, cannot easily be changed once it is signed, and the person who creates it gives up some control over the property placed in it.
In Florida, the default favors flexibility. Under section 736.0602(1), the person who creates a trust may revoke or amend it unless the terms of the trust expressly make it irrevocable. Under section 736.0602(3), you can change or revoke the trust by following the method the trust itself sets out, or, if it sets out none, by a later will or codicil that expressly refers to the trust or by another method that shows your intent by clear and convincing evidence. We build a simple, clear amendment method into every trust we prepare so changes are easy to make and easy to prove.
People sometimes consider irrevocable trusts for specific tax or planning goals, and those decisions depend heavily on individual circumstances. Our estate planning practice focuses on revocable living trusts, which suit most families who want to avoid probate while keeping full control. If your situation raises questions beyond that, we will tell you so at your consultation. Our article on revocable vs irrevocable trusts in Florida compares the two side by side.
How a living trust avoids probate
Under the Florida Trust Code, assets that are titled in the name of your trust pass without probate. Because the trust, not you personally, owns those assets, there is nothing for a probate court to transfer when you die. Your successor trustee simply follows the instructions in the trust. A trust is also not filed with the court the way a will is during probate administration, which gives your family more privacy.
Funding the trust
Signing the trust document is only half the job. Funding means moving your assets into the trust's name, or naming the trust where appropriate. Depending on what you own, funding may involve:
- Recording a new deed to put real estate into the trust.
- Retitling bank and brokerage accounts in the trustee's name.
- Assigning personal property, such as household items and valuables, to the trust.
- Reviewing beneficiary designations on accounts and policies so they fit the overall plan.
- Reviewing business interests, so ownership can move into the trust without breaking an operating agreement.
We give you clear instructions and help with the deeds and assignments, so your trust does not end up as an empty shell. A short funding checklist, reviewed again whenever you open a new account or buy property, keeps the plan working for years.
Your home and your trust
A Florida home can be placed in a revocable trust, but the homestead rules still apply. If you are survived by a spouse or a minor child, Florida limits who can receive your homestead, and placing it in a trust you can revoke does not remove those limits. We review the deed and the trust together, and explain how Florida homestead planning affects your choices before anything is recorded.
The pour over will
Even careful people forget an account or acquire new property later. A pour over will is a short Florida will that leaves anything still in your own name to your trust. It acts as a safety net. Property passing under the pour over will may still need probate, but once it reaches the trust it is distributed under the same instructions as everything else.
Signing requirements in Florida
Florida treats the parts of a revocable trust that take effect at death much like a will. Under section 736.0403, those testamentary provisions must be signed with the same formalities as a will: signed by you in front of two witnesses who also sign. Several online guides get this point wrong. We supervise the signing so this requirement is met, and we add a notary so the trust can be readily accepted by banks and title companies.
If you become unable to manage the trust
A living trust is also an incapacity plan. If you can no longer manage your affairs, your successor trustee steps in for the assets the trust owns, without a guardianship proceeding. For assets outside the trust, a durable power of attorney fills the gap, and we usually give your agent specific authority to move assets into the trust.
How we prepare your trust
- Consultation. We review your family, your property and your goals, and confirm a trust makes sense for you.
- Drafting. We prepare the trust, a pour over will and the supporting documents most plans need.
- Signing. We handle the witnesses and notary.
- Funding. We help you move assets into the trust and check that nothing important was missed.
