One of the most powerful tools available to secure your legacy and protect your loved ones is the Living Trust. But what is a Living Trust, and how is it different from a will? In this guide, we’ll cover everything you need to know—how they work, what Florida law requires, and whether a trust is right for you.
At Feinstein & Mendez, P.A., we help individuals and families across Florida create legally sound and personalized estate planning that provides peace of mind for years to come.
What Is a Living Trust?
A Living Trust is a legal document that holds ownership of your assets while you’re alive and allows for smooth, private distribution after death, without going through probate court. You (the grantor) create the trust, name a trustee to manage it, and designate beneficiaries who will receive your assets.
Will vs. Living Trust in Florida
- A Will goes into effect after your death and must pass through probate.
- A Living Trust becomes active as soon as it’s signed and funded, and allows your estate to bypass probate entirely.
- Living Trusts offer more privacy, faster distribution, and better incapacity planning.
Types of Living Trusts in Florida
- Revocable Trust: Can be changed or canceled during your lifetime.
- Irrevocable Trust: Permanent once created, often used for asset protection or tax planning.
How Does a Living Trust Work in Florida?
Under Florida living trust law, here’s how it works:
- During Your Lifetime: You control your assets as the trustee and can change terms at any time (if revocable).
- If You Become Incapacitated, your named successor trustee will step in to manage your affairs without the need for court intervention.
- After Death, the successor trustee distributes your assets according to your wishes, without probate.
This process ensures privacy, continuity, and control, which are key benefits under Florida trust requirements.
Key Benefits of Living Trusts in Florida
- Avoid Probate – No need for costly and public court proceedings.
- Faster Distribution – Your beneficiaries receive assets quickly.
- Maintain Privacy – Unlike wills, trusts do not become public record.
- Plan for Incapacity – Seamless transition in case of illness or incapacity.
- Avoid Ancillary Probate – Manage out-of-state real estate within the trust.
Who Should Consider a Florida Living Trust?
You should seriously consider creating a Living Trust in Florida if you:
- Own real estate in Florida (or in other states)
- Have children, especially minors or dependents
- Are part of a blended or complicated family situation
- Own a business or have high-value assets
- Want to keep your estate private and avoid delays
At Feinstein & Mendez, P.A., we provide free consultations to see exactly how we can deliver your personalized trust to meet your personal goals and family needs.
How to Create a Living Trust in Florida
Creating a legally valid and effective Living Trust in Florida involves more than just filling out a form. Here’s a step-by-step guide to doing it the right way:
1. Choose the Type of Trust
Decide whether you need a revocable trust (which you can amend or revoke during your lifetime) or an irrevocable trust (which generally can’t be changed but offers certain tax and asset protection benefits). Most Florida residents start with a revocable trust for flexibility.
2. Name a Trustee and Successor Trustee
You’ll typically serve as your own initial trustee, maintaining control over your assets during your lifetime. You must also name a successor trustee—someone you trust to manage and distribute assets after your death or if you become incapacitated.
3. Identify Your Beneficiaries
Decide who will inherit your assets. These can include family members, friends, or even charities. You can also set specific conditions for how and when your beneficiaries receive their inheritance.
4. Draft the Trust Document
This is the legal heart of your Living Trust. It must be carefully written to meet all Florida trust requirements, including clarity about your wishes, powers granted to the trustee, and terms of distribution. It’s critical to work with an experienced estate planning attorney to avoid costly mistakes or legal invalidation.
5. Execute the Document Properly
Under Florida law, your trust document must be signed in front of two witnesses and a notary public to be valid. Skipping or mishandling this step can render your trust unenforceable in court.
6. Fund the Trust
Once the trust is created, it must be “funded” by transferring ownership of your assets into the trust. This includes:
- Real estate (via deed transfer)
- Bank and investment accounts
- Business interests
- Personal property (where appropriate)
Failing to fund your trust is one of the most common—and costly—mistakes. At Feinstein & Mendez, P.A., we guide you through each transfer step to make sure your trust is fully funded and legally functional.
How Much Does a Living Trust Cost in Florida?
The cost of a living trust in Florida depends on complexity and legal needs:
- Simple Trust (individual or couple): $1,000–$2,500+
- With additional planning (tax, Medicaid, blended families, etc.): $2,500–$5,000+
- Compare this to the cost of probate, which can be 3–6% of your estate and take 6–12 months.
At Feinstein & Mendez, P.A., we offer transparent pricing and custom plans designed for your goals.
Common Mistakes to Avoid
- Not funding the trust (assets remain outside and go through probate)
- Failing to name a successor trustee
- Forgetting to update the trust after major life events
- Assuming your assets are fully protected from creditors (they’re not unless it’s an irrevocable trust)
Our team of professionals at Feinstein & Mendez, P.A., helps you avoid costly errors and keep your estate plan up to date. Contact us today to schedule a free consultation!
Florida Legal Requirements for a Living Trust
- Must be in writing
- The grantor must be legally competent
- Must name a trustee and at least one beneficiary
- Must be executed with two witnesses and a notary (Florida Statutes)
Trusts that aren’t properly executed may be challenged or invalid, but we can help you create a perfectly legal living trust if you’re unsure by yourself.
Living Trust vs. Other Estate Planning Tools
| Tool | Purpose | When It Applies |
| Living Trust | Manage and distribute assets privately | During life & after death |
| Living Will | State your medical wishes | End-of-life care |
| Durable Power of Attorney | Authorizes someone to act for you legally | If you’re incapacitated |
| Pour-over Will | Works with a trust to catch overlooked assets | After death |
Frequently Asked Questions (FAQ)
What are the benefits of a living trust in Florida?
Avoids probate, ensures privacy, allows for faster distribution, and provides control in case of incapacity.
What is a Living Trust, and how is it different from a Last Will and Testament?
A living trust avoids probate and is active while you’re alive. A will goes through court and only activates after death.
How can you create a Living Trust in Florida?
Work with an estate planning attorney to draft and execute a trust that complies with Florida law and fund it with your assets.
What are the disadvantages of a Living Trust in Florida?
Upfront cost, ongoing maintenance, and it does not automatically protect from creditors unless it’s irrevocable.
Should I put my house in a trust in Florida?
Yes—this allows your home to avoid probate and can help with estate continuity and privacy.
How much does it cost to create a Living Trust in Florida?
It ranges from $1,000 to $5,000+, depending on complexity and your attorney’s fees.
Can I make my own Living Trust in Florida?
You can, but DIY trusts often miss legal requirements. It’s safer and smarter to work with a professional.
What is the primary purpose of a living trust?
To ensure smooth, private, and controlled distribution of your estate while avoiding probate.
Why is a trust better than a will?
It provides privacy, avoids court, enables incapacity planning, and speeds up asset transfers.
Conclusion: Is a Living Trust Right for You?
If you’re a Florida resident looking to protect your legacy, minimize court involvement, and keep your family out of the public probate process, a Living Trust may be the perfect solution for you.
At Martha Mendez, Esq., we make the process simple, legally sound, and completely aligned with your goals. Whether you’re just getting started or updating an existing trust, we’re here to help every step of the way.
