The most common problem with Florida Estate Planning or estate planning in general is that those how are in the most need of the benefits a Florida Revocable Trust can offer are the ones who usually fail to fund their trust.
Creating a Florida Revocable Trust is only the beginning. No benefits are received by signing the documents. It is only when the Florida Revocable Trust is funded that the benefits of the trust can be used.
These benefits include avoiding delays in probate, reducing or eliminating the costs associated with a Florida Probate, and not having your assets or the distribution of your assets in the public record.
There are many other benefits that are specific to each Florida Revocable Trust .
If you have not funded your Florida Revocable Trust now is the time to do so. Don’t forget to transfer your bank accounts, stocks, bonds, land, and other assets. Generally personal property can be assigned to the Florida Revocable Trust with a simple assignment. This is one type of asset that many people forget about and can often cause a Florida Probate to be necessary.
For more information on how to fund or create a Florida Revocable Trust Contact a Florida Estate Planning Lawyer.