In Jacksonville or other cities in Florida, there are many advantages to using a Revocable Living Trust or Florida Land Trust to hold title to real estate. Dyches Broddiford has an interesting article dealing with many of these issues.
In summary a real estate trust provides:
- Privacy for the owners;
- Protection of the individual owners assets (in most circumstances);
- Ability to assign an interest without changing public records;
- Avoids Guardianship of the assets when a party is incapacitated;
- Guardianship of the trustee, trusts can provide for alternate trustees;
- Privacy while living;
- Probate is not needed upon the death of the owner; and
- No tax benefits
For more details click the link above or talk with a Florida Estate Planning Attorney or Jacksonville Living Trust Lawyer
