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FAQs / Wills / Trusts / Does It Really Take Less Time To Settle An Estate In Which A Revocable Trust Was Used Rather Than Just A Will?

Does It Really Take Less Time To Settle An Estate In Which A Revocable Trust Was Used Rather Than Just A Will?

A revocable trust, if funded properly prior to death, allows families to avoid the probate process entirely.  The probate process, at least in Florida, can be a tedious and lengthy undertaking. It generally takes a month or two to open a formal probate administration and obtain the Letters of Administration appointing a personal representative. Once the estate is open, the 90-day creditor period is initiated in which potential creditors can file claims. Assets of the estate should not be distributed, and the estate cannot be finalized until the creditor period has expired. Due to these procedural requirements, most formal probate administrations last at least 5-6 months and often extend up to 1 year.

By utilizing a revocable trust, the probate process can be bypassed. The successor Trustees named in the trust document should have immediate access to the trust assets and can proceed with administering the trust according the trust provisions. The Trustees also don’t have to wait for the creditor period to expire prior to making distributions to the beneficiaries. So, while a trust can expedite the administration process, the type of assets involved, and the exact provisions of the trust will determine how long it takes to finalize the process.

Wills / Trusts FAQs

  • How Can I Find Out If There Was A Will?
  • Can A Will Be Changed Or Revoked?
  • Can I Specify That Certain People, Like A Brother Or Sister, Should Never Receive Any Of My Property?
  • Can Someone Quit Claim His Property To Me Instead Of Leaving It In His Will?
  • Do I Have To Be In My Home State When I Make My Will?
  • Do Living Trusts Go Through Probate?
  • Does A Trustee Of A Trust Have To Provide An Accounting?
  • Does It Really Take Less Time To Settle An Estate In Which A Revocable Trust Was Used Rather Than Just A Will?
  • Does My Will Have To Be Notarized?
  • How Do You Prove A Will?
  • How Does A Living Trust Avoid Probate?
  • How does a revocable living trust avoid probate?
  • How Long Does It Take to Settle a Trust?
  • How long is a will valid?
  • How often should my will be reviewed?
  • Is a handwritten will valid?
  • My parent died with a will and disinherited me. Can my parent do that in Florida?
  • What are self-proving wills?
  • What are trusts?
  • What benefits does a trust offer?
  • What does died testate vs intestate mean?
  • What does a will usually contain?
  • What does it mean to fund a trust?
  • What happens if we cannot find the decedent’s will?
  • How can someone see the will of a person who has died?
  • What other probate avoiding techniques are there in addition to revocable, aka living, trusts?

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