Living Trust Florida

Testamentary trusts

Testamentary trusts are commonly used to hold assets for beneficiaries who are not yet fiscally responsible, protect assets from a beneficiary's creditors (spendthrift provision) and double estate tax exemptions for married couples.

A testamentary trust forms only after the person creating a will according to the will's instructions. Before assets can be transferred to the testamentary trust, the probate process must resolve all debts and claims.

Therefore, testamentary trusts are not useful tools for avoiding probate.

For further discussion of the uses described above and for other uses, select one of the options below. Living trusts and testamentary trusts uses can often be discussed simultaneously.

Related estate planning documents and topics

• Controlling distributions for young beneficiaries
  
• Beneficiaries receiving disability income
  
• Maintain a Residence
  
• Blended families
  
• Families with pets - food and vet expenses
  
• Avoid probate
  
• Double estate tax exemption for married couples