Revocable Living Trust requirements in Florida
- You must be at least 18 years old and mentally competent.
- You need a written trust document that names a trustee and beneficiary.
- You must fund the trust by transferring ownership of assets into it.
- The trust document must be signed in front of a notary public.
- While Florida law does not require witnesses for the trust, notarization is essential for property transfers.
- Consider having an attorney review your trust to ensure it meets Florida law.
Contact a Florida estate planning attorney today to draft your revocable living trust and secure your legacy.
Create your revocable living trustHow to create a Revocable Living Trust in Florida, step by step
- List your assets and decide which ones to place in the trust.
- Choose a trustee (often yourself) and a successor trustee.
- Draft the trust document using a template or attorney.
- Sign the trust document before a notary public.
- Transfer ownership of your assets into the trust's name.
- Store the original trust document safely and inform your trustee.
Cost considerations
In Florida, creating a revocable living trust can cost between $1,500 and $3,000 if you hire an attorney. Using a living trust template might cost $100–$300, but mistakes can lead to probate or tax issues. Funding the trust involves small fees for changing titles or deeds.
Before You Create a Florida Living Trust
Gather key documents and understand Florida's signing rules before drafting your revocable living trust to avoid common mistakes.
- Inventory your assets (real estate, bank accounts, investments, personal property) to decide what to fund the trust with.
- Obtain your property deed and check for existing mortgages or liens—you can transfer real estate but must keep the mortgage current.
- Decide on a successor trustee and beneficiaries, and confirm they are willing to serve.
- Have your trust notarized and signed by two witnesses (per Florida law for self-proving documents).
- Locate your financial account statements to retitle assets into the trust's name—funding is essential.
- Avoid common pitfalls: don't forget to fund the trust, and don't skip the notary/witnesses—otherwise the trust may be invalid in Florida.
Common questions
What is the difference between a revocable living trust and a will in Florida?
A will goes through probate, which is a court-supervised process that can take months and cost money. A revocable living trust avoids probate because assets in the trust are not part of your probate estate. Also, a will only takes effect after death, while a trust manages your assets during your lifetime.
Do I need to notarize my revocable living trust in Florida?
Yes, a notary public must witness your signature on the trust document. This is crucial for recording real estate deeds and for other institutions to accept the trust.
Can I be my own trustee in Florida?
Yes, you can be your own trustee. This lets you keep control of your assets. Just name a successor trustee to take over if you become incapacitated or pass away.
Is a revocable living trust worth it in Florida?
For many people, yes. If you own real estate or have significant assets, avoiding probate can save your family time and money. But if your estate is small, a will might be enough. Consider your situation and consult an estate planning attorney.