What’s Better: A Will or a Trust in Florida?

What is a will? What is a trust? And which one should I choose for my estate plan?

Whether a will or a trust is better for your estate plan will depend on your circumstances and goals. If your estate is simple, a will may serve your needs. But if you have complex assets and concerns about privacy, a trust may be appropriate. In some cases, a Florida estate plan may benefit from having both a funded trust for probate avoidance on major assets, plus a “pour-over will” capturing anything outside the trust at death.

The Estate Plan helps Florida families navigate the will vs. trust decision with clear guidance and estate planning support. Call (305) 735-2689 to discuss your specific situation with a Florida estate planning attorney.

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Key Takeaways for Wills vs. Trusts in Florida

• Wills require probate administration, whereas properly funded trusts avoid it entirely
• Trusts provide incapacity planning; wills don’t: If you become incapacitated, your successor trustee manages trust assets immediately without guardianship proceedings
• Estate plans can include both documents –  a living trust holds assets, while a pour-over will captures anything outside the trust, nominates guardians for minor children, and serves as backup to your trust-based plan
• If you have modest assets, are comfortable with probate, want straightforward distribution, and don’t need complex incapacity planning, a properly executed Florida will might suffice without trust creation costs

What Is a Revocable Living Trust in Florida?

A revocable living trust is a legal entity you create during your lifetime to hold property for your benefit now and your beneficiaries’ benefit after death. You typically serve as initial trustee, managing assets normally during your life. Upon your death or incapacity, your named successor trustee takes control without court involvement.

What trusts accomplish:

• Avoid probate entirely for assets titled in the trust’s name
• Maintain complete privacy (no public court filings reveal your assets or beneficiaries)
• Provide seamless incapacity planning (successor trustee manages assets if you become unable)
• Accelerate distributions (beneficiaries receive property faster than probate timelines)
• Simplify multi-state property transfers (real estate in multiple states avoids ancillary probate in each jurisdiction)

What trusts don’t do:

• Eliminate estate taxes (revocable trusts offer no tax advantages)
• Protect assets from creditors during your lifetime (revocable trusts aren’t asset protection vehicles)
• Nominate guardians for minor children (you still need a will for guardian nominations)
• Work automatically (you must transfer property into the trust’s name—”funding”—for probate avoidance to function)

Trusts require more upfront work and cost but provide significant benefits for estates with substantial assets, multiple properties, or complex family situations. Other trusts, like irrevocable trusts and special needs trusts, may also be useful tools for some estates.

When a Will Is Better Than a Trust in Florida

Despite trust advantages, many Florida families need only comprehensive wills:

• Simple estates with modest assets: Modest estates below a specific threshold might qualify for Florida’s summary administration, which simplifies probate administration significantly. Adding trust complexity and funding requirements might not justify marginal benefits.
• Young families focused on guardian nominations: Parents of minor children primarily concerned with guardian designation and basic property distribution might prioritize will creation over trust establishment, especially when budget constraints matter. You can always add trusts later as assets grow.
• Comfortable with probate process: Some families prefer court supervision, formal creditor claim procedures, and the structure probate provides. If privacy isn’t a concern and you trust your personal representative to handle administration competently, wills might suffice.
• Limited real estate holdings: Single-state property ownership with simple beneficiary distribution doesn’t necessarily require trust-based planning. Florida homestead protections and beneficiary deeds might address your primary concerns without trust funding requirements.
• Budget considerations: Comprehensive will packages generally cost significantly less than trust creation, funding, and maintenance. If current finances make trust setup prohibitive, a solid will with plans to establish trusts later balances protection with affordability.

When a Trust Is Better Than a Will in Florida

Living trusts make sense for Florida families in specific situations:

• Substantial estates with multiple assets: If you own multiple properties, significant investment portfolios, business interests, or valuable personal property, trust-based planning streamlines management and distribution while maintaining privacy.
• Multi-state property ownership: Florida residents owning real estate in other states (vacation homes, rental properties, inherited land) avoid ancillary probate in each jurisdiction by titling all property in trust names.
• Privacy concerns: High-net-worth individuals, business owners, and families wanting to keep financial details confidential benefit from trusts’ private administration without public court filings.
• Blended family situations: Second marriages with children from prior relationships often create distribution complexities. Trusts provide precise control over when and how spouses and children from different marriages receive assets, reducing conflict potential.
• Incapacity planning priorities: If seamless asset management during potential incapacity matters significantly, trusts provide superior protection compared to durable powers of attorney alone.
• Avoiding probate delays: Beneficiaries needing quick access to funds for business continuation, mortgage payments, or living expenses benefit from trust distributions that occur without probate court timelines.

Why Many Florida Families Use Both Wills and Trusts

Comprehensive estate plans typically combine living trusts with pour-over wills:

• Pour-over wills capture unfunded assets: Despite best intentions, people die owning property outside their trusts. Pour-over wills transfer these “probate assets” into your trust after death, so your trust’s distribution provisions control everything.
• Wills nominate guardians: Florida trusts cannot nominate guardians for minor children. You need a will addressing guardian nominations even when trusts handle all property distribution.
• Wills provide backup protection: If trust funding was incomplete, your will ensures property still reaches intended beneficiaries through probate rather than Florida’s intestacy laws.

This belt-and-suspenders approach provides a safety net and greater protection, probate avoidance for major assets through your trust, plus comprehensive backup coverage through your will.

FAQ for Florida Wills vs. Trusts

Do I Still Need a Will If I Have a Trust in Florida?

Generally, yes. Even with funded trusts, you need pour-over wills capturing assets outside the trust, nominating guardians for minor children, and providing backup distribution instructions. Florida estate planning attorneys prepare both documents together for comprehensive protection.

Does a Trust Avoid Probate in Florida?

Properly funded living trusts avoid probate for all assets titled in the trust’s name. However, property you never transferred into the trust still goes through probate under your will (or intestacy if you have no will). Trust effectiveness depends entirely on proper funding during your lifetime.

Is a Living Trust Worth the Cost in Florida?

The answer depends on your estate’s size and complexity. For substantial estates, multiple properties, or strong privacy concerns, trusts’ probate avoidance and administration benefits typically justify higher upfront costs. For simple estates, comprehensive wills might provide adequate protection at lower cost.

Choosing Your Florida Estate Planning Tools

Peter Dyson – Florida Estate Planning Attorney

The Estate Plan helps Florida families understand the will vs. trust decision without pressure or unnecessary complexity. We evaluate your assets, family structure, privacy concerns, and budget to recommend estate planning tools that actually serve your situation.

Our Coral Gables office serves families throughout Miami-Dade County and across Florida with straightforward estate planning focused on your specific needs. We explain Florida law in plain English, prepare properly executed documents, and remain available when life changes require updates.

Call (305) 735-2689 today to discuss whether wills, trusts, or both make sense for protecting your family and assets under Florida law.

Contact us today