Understanding Revocable Living Trusts

11:41 am Estate Planning

Estate planning clients often ask about the pros and cons of a will versus a revocable living trust. This article provides a good overview:

http://www.estateplanning.com/Understanding-Living-Trusts/

Note that in Florida, there are reasons for filing a probate proceeding even when a revocable living trust is employed. For example, there may be a need for a judicial determination of  homestead status for real estate, or there may be a need to employ the 90-day creditor claims period available under Florida probate law. Nonetheless, the article highlights some of the principal benefits offered by revocable living trusts.

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