Trust or Will in Florida: Which Do You Need?
If avoiding probate, keeping your affairs private or planning for incapacity matters to you, a funded revocable living trust is usually the better choice in Florida. A will costs less up front, but everything that passes under it goes through probate.
| Will | Revocable living trust | |
|---|---|---|
| Avoids Florida probate | No | Yes, for funded assets |
| Private | No; filed with the court at probate | Generally yes |
| Manages assets if you're incapacitated | No | Yes, through your successor trustee |
| Avoids probate in other states | No | Yes, if out-of-state property is in the trust |
| Names guardians for children | Yes | No; paired with a will and guardian declaration |
| Up-front cost | Lower | Higher, but often less than probate later |
| Signing | Two witnesses (§ 732.502) | Two witnesses for death provisions (§ 736.0403) |
When a will may be enough
A will can work well if your estate is modest, most assets already have named beneficiaries, and your family is comfortable with probate. If the non-exempt probate estate is $75,000 or less, summary administration may be available.
When a trust is usually better
- You own real estate, especially in more than one state
- You have minor children or a beneficiary with special needs
- You want privacy or expect family disagreements
- You want a smooth transition if you become incapacitated
Either way, you need the other documents too
A trust or will only covers what happens to your property. A durable power of attorney, health care surrogate, living will and HIPAA release protect you during your lifetime. See what a complete Florida estate plan includes.
Call 850-607-2222 or schedule a free Peace of Mind Strategy Session to talk through which is right for your family.
