Trusts Lawyers Serving The Lake Placid Area And Beyond Since 1994
Last updated on June 11, 2026
Creating A Revocable Living Trust
Creating and funding a Revocable Living Trust is one way to avoid probate. What is the advantage of avoiding probate? It normally saves time and expense for your beneficiaries. A Revocable Living Trust can only distribute items which are funded into it, so trust funding is crucial. An estate could bear the expense of both a probate and a trust administration if the Trust is not properly funded.
The Advantages Of A Trust
A Revocable Living Trust allows you to:
- Name a trustee to oversee your trust distribution after your passing
- Your trustee can also act during your lifetime if you are incapacitated or cannot serve for any reasons
- Avoid court supervision and delay
- Save money on Florida Statutory probate fees
- Fund real property from multiple states to avoid probate in more than one location
- Have power beyond the grave to distribute assets over time and not all at once
- Plan for beneficiaries who are minors, have an incapacity, who receive needs based government benefits, or who have chemical dependency issues, and more
While a trust is a cornerstone document to an estate plan, it is still only one part. We can help you explore other needed parts such as health care and financial power of attorney for your lifetime.
Answering Frequently Asked Questions Regarding Trusts
When our clients are considering creating a Trust as part of their estate plan, they often have a lot of questions. As we guide you through the process, we can answer your questions while helping you establish a Trust that meets your needs. Some of the questions we frequently receive from our clients include:
What is the difference between a Revocable Living Trust and a Will?
A Revocable Living Trust and a Will are both estate planning tools, but they serve different purposes. A Trust allows you to avoid probate, manage assets during your lifetime, and provide for beneficiaries in a controlled manner after your passing. A Will, on the other hand, only takes effect after your death and typically requires probate. Many people use both documents together for a comprehensive estate plan.
Do I need a Trust if I don’t have a large estate?
Yes, a Trust can be beneficial even if your estate is modest. Trusts are not just for the wealthy—they can help avoid probate, manage assets for minor or incapacitated beneficiaries, and ensure your wishes are carried out efficiently. Additionally, a Trust can save your loved ones time and money, regardless of the size of your estate.
What happens if I don’t fund my Trust properly?
If you don’t fund your Trust properly, the assets not transferred into the Trust may still need to go through probate. This can result in additional costs and delays for your beneficiaries. Proper funding is essential to ensure your Trust functions as intended, and we can assist you in transferring assets into your Trust.
Our Lawyers Can Start Working For You
If you would like to learn more about creating a Trust, we are happy to answer any questions you may have. We serve neighboring geographies Sebring, Avon Park, Wauchula and Okeechobee from our office in Lake Placid. Please call us today at 863-600-8510 or send us an email to arrange for a consultation.