What is a living trust?

A living trust is a legal document that allows you to manage your assets while still alive and make sure your wishes are followed when you are no longer alive. It is an important part of estate planning, especially in Florida where elder law can be tricky. Living trusts provide more control over your assets while you are alive and when you pass away. When a living trust is created, you transfer ownership of your assets into the trust. When you pass away, the trust will control the assets and pass them on to the beneficiaries you have named. This is useful for avoiding long probate processes for your estate and also offers financial protection if you become incapacitated. Another benefit of living trusts is that they are private and avoid going through court to be enforced. This can be beneficial for families who want to keep their affairs private. Living trusts are an important part of Elder Law in Florida and can be used to protect your assets and wishes. They are beneficial both in life and after death, and should be considered when planning your estate.

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