Legal Question in Wills and Trusts in Florida

A simple answer to a simple question:

1. A last will expresses the wishes and intentions of the testator regarding the distribution of his property (estate), payment of debts, and other issues upon his or her death.

2. A trust, revocable or irrevocable, creates a legal entity (the trust) to hold the estate, manage the estate property, pay debts and expenses, distribute the estate in a certain manner and time. A trust legally survives the death of the person and continues as owner of the property; the trustee is responsible for carrying out the terms of the trust to accomplish the wishes of the Grantor (who set up the trust).

3. In Florida such trusts are utilized to avoid probate, to manage and distribute estates in complicated family situations, to carry on certain businesses and investments, and for other legal purposes. A single person can set up a trust which avoids probate upon his death.