Quote:
Originally Posted by RoboVil
The main advantage to a revocable trust is to avoid probate and thus maintain privacy and speed up the transfer of assets. As a general rule, you put real estate and non-retirement financial assets in the trust. If you have substantial money in non-IRA accounts then a trust would be good to avoid public disclosure. Only 5 states allow "Ladybird" transfers, Florida being one of them.
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If your non-IRA accounts have TOD (transfer on death), they would be payable on death. They would not be publicly disclosed and would not go through probate.
Avoiding Probate in Florida.
I would say that 90% of people do not need trusts - but lawyers sure like to tell you that you do!