Resources & FAQs

A will directs how certain property should be distributed after death and generally becomes part of the probate process. A properly established and funded trust can allow assets held by the trust to be managed and distributed according to its terms without those assets passing through probate.

Estate planning is not limited to high-net-worth families. A comprehensive plan can address who should manage financial and health care decisions if you become incapacitated, who should receive your property, and who should care for minor children.

When a Florida resident dies without a valid will, property subject to probate is generally distributed according to Florida’s intestacy laws rather than according to personally written instructions.

The length of probate varies depending on the type of administration, assets involved, creditor issues, tax matters, disputes, and other circumstances. More complex estates may require substantially more time.

A successor trustee may be responsible for identifying and safeguarding trust assets, following the terms of the trust, communicating with beneficiaries, addressing debts and taxes, maintaining records, and making appropriate distributions.

A revocable trust is generally designed so the person who created it can amend or revoke it during lifetime while legally competent, although the trust document and individual circumstances should always be reviewed.

Medicaid planning considers the financial and legal rules that may affect eligibility for long-term care benefits. Because eligibility rules and individual circumstances can be complex, planning should be tailored carefully to the individual.

A revocable trust generally allows the creator to retain the ability to modify or revoke the trust during lifetime. An irrevocable trust is structured differently and may limit the creator’s ability to change the trust after it is established.

It is wise to review an estate plan periodically and after major life or financial changes, including marriage, divorce, births, deaths, significant changes in assets, business changes, relocation, or changes in the people selected to serve important roles.

The appropriate planning strategy depends on your family, assets, goals, tax considerations, health concerns, business interests, and other circumstances. A personalized review can help identify which tools may be appropriate for your situation.