Liability of a revocable trust for estate debts in Florida

There is some confusion out there regarding revocable trusts in Florida; for some reason some clients think that a revocable trust will not have to pay money owed by the person who died.
This is incorrect.  Florida makes revocable trusts liable for the debts of the estate to the same extent as the estate would be responsible.
I explain this in more detail here:

Will a revocable trust provide asset protection for me in Florida?
And why a revocable trust can actually trigger a probate under some circumstances, here:

Why living trusts don’t avoid probate in Florida
But, to be blunt, the regular, plain vanilla, inter vivos, revocable living trust that many people have in Florida will not escape paying debts of the decedent just because it is a trust.
There are ways to avoid most creditors claims against an estate in Florida; this gets complicated and you should consult with an attorney about how to do this, this is not something  you want to try to do it  yourself; but an ordinary revocable trust is not one of the ways to do this.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>