Florida Living Trust Template

Florida is the trap in this group, because it is the state that treats a living trust like a will. Under §736.0403(2)(b), any provision disposing of trust property on or after the settlor's death, other than to the settlor's own estate, fails unless the trust was signed with will formalities, meaning two subscribing witnesses. A trust downloaded from a generic form and signed in front of a notary alone is enforceable during life and collapses at exactly the moment it is needed. The subsection does not reach retirement vehicles such as an individual retirement account or an employee annuity under the Internal Revenue Code. Florida Statutes §736.0403(2)(b) holds that the testamentary aspects of a revocable trust signed by a Florida domiciliary are invalid unless the instrument was executed with the formalities required for a will in Florida. Under Florida Trust Code, Florida Statutes Chapter 736, Florida governs the creation, administration, and termination of revocable living trusts. Florida is a equitable distribution state (not community property), a distinction that directly affects how marital assets are titled in the trust. In Florida, summary administration available for estates under $75,000 or where decedent died 2+ years ago, making a living trust particularly valuable for estates that exceed this limit. Regarding taxation, Florida has no state estate tax or inheritance tax, constitutionally prohibited.

Without a living trust, Florida estates may face a lengthy and expensive probate process. In Florida, probate costs typically include attorney fees based on "reasonable compensation", typically 3-5% of probate estate value. No trust registration required in Florida. Every asset must be formally re-titled in the trust's name, an unfunded living trust provides no probate avoidance. A complete estate plan pairs a living trust with a pour-over will and a power of attorney for lifetime incapacity protection.