A revocable living trust is the document Florida estate planners reach for most often — and for good reason. It does three things a will alone cannot: it avoids probate, it keeps your estate private, and it plans for incapacity, not just death. This guide explains what a Florida revocable living trust is, how it works under the Florida Trust Code, what it costs, and the single step most people get wrong.
What Is a Revocable Living Trust?
A revocable living trust is a legal arrangement you create while you are alive ("inter vivos") to hold your assets. You wear three hats at once:
- Grantor (also called settlor) — the person who creates the trust and transfers assets into it.
- Trustee — the person who manages the trust. In a revocable trust, this is normally you, so you keep full control.
- Beneficiary — the person who benefits from the trust. During your life, that is you.
Because you hold all three roles, nothing about your day-to-day life changes. You buy, sell, spend, and invest exactly as before. The trust governs the Florida Trust Code — F.S. Chapter 736 — and you may amend or revoke it at any time while you have capacity.
How a Revocable Trust Avoids Probate
Probate is the court-supervised process of transferring assets that are titled in your individual name at death. The key insight: a trust never dies. When assets are owned by your trust rather than by you personally, there is nothing for the probate court to transfer. Your successor trustee simply steps in and distributes the assets according to your instructions — often in weeks rather than the 6 to 18 months a Florida formal probate administration typically takes.
This also avoids ancillary probate — a separate proceeding for out-of-state real estate. If a Florida snowbird owns a home up north, a trust lets both properties pass without two separate court cases.
The Step Everyone Gets Wrong: Funding the Trust
A trust only avoids probate for the assets it actually owns. Signing the trust document is only half the job. The other half — funding — means retitling your assets into the name of the trust:
- Real estate — a new deed transfers your home into the trust. In Florida this is generally exempt from documentary stamp tax when you are the grantor and trustee (F.S. § 201.02(1)).
- Bank and brokerage accounts — retitled in the name of the trust, or set to transfer to it.
- Business interests — LLC membership and other interests assigned to the trust.
- Beneficiary-designation assets — IRAs, 401(k)s, and life insurance usually pass by beneficiary designation, not through the trust; these are coordinated, not retitled.
What a Revocable Trust Does — and Does Not — Do
| Benefit | Revocable Living Trust |
|---|---|
| Avoids probate (for funded assets) | Yes |
| Keeps your estate private | Yes — not a public court record |
| Plans for your incapacity | Yes — successor trustee steps in, no guardianship |
| Avoids out-of-state ancillary probate | Yes |
| You keep full control while alive | Yes — amend or revoke anytime |
| Protects assets from your creditors (during life) | No — see F.S. § 736.0505 |
| Reduces estate tax | No — assets remain in your taxable estate |
| Names a guardian for minor children | No — only a will can do this |
Revocable vs. Irrevocable Trust in Florida
The biggest point of confusion is the difference between revocable and irrevocable trusts. The trade-off is control vs. protection:
| Feature | Revocable Trust | Irrevocable Trust |
|---|---|---|
| Can you change or revoke it? | Yes, anytime | No (only in limited ways) |
| Avoids probate? | Yes | Yes |
| Creditor / asset protection? | No | Yes |
| Helps with Medicaid eligibility? | No | Potentially (subject to look-back) |
| Who controls the assets? | You | An independent trustee |
For most families, the revocable trust is the right tool. If you need lifetime creditor protection or Medicaid planning, see our guides on the Florida irrevocable trust and Florida Medicaid planning and the look-back period.
Florida-Specific Issues Every Trust Must Address
Homestead Property
Florida's homestead protections (Art. X, § 4, Florida Constitution; F.S. § 732.4015) are powerful but unforgiving. Homestead can generally be placed in a revocable trust and keep its ad valorem tax exemption (F.S. § 196.031), but devise restrictions still apply if you have a surviving spouse or minor children. A trust drafted without careful homestead language can fail.
The Spousal Elective Share
A revocable trust does not let you disinherit a spouse. Under F.S. § 732.2035, revocable trust assets are included in the "elective estate," and a surviving spouse may claim 30% of it regardless of the trust's terms. See our guide to the Florida elective share.
No Lifetime Asset Protection
Because you retain control, F.S. § 736.0505 makes revocable trust assets reachable by your creditors during your lifetime, and they remain in your taxable estate. A revocable trust is a probate-avoidance and incapacity tool — not an asset-protection or tax-reduction tool.
How Much Does a Florida Revocable Living Trust Cost?
A complete Florida trust-based estate plan — the revocable trust, a pour-over will, a durable power of attorney, a healthcare surrogate designation, and a living will — typically costs $1,500 to $3,500 at Florida firms. Compare that to a will-only plan, where statutory probate attorney fees under F.S. § 733.6171 commonly run 3%–5% of the gross estate. On a $500,000 estate, that is roughly $12,500 in fees the trust would have avoided. See our full breakdown of Florida estate planning costs.
Frequently Asked Questions
Related Reading
- Trust vs. Will in Florida: Which Do You Need? — how the two documents work together.
- How to Make a Will in Florida — the pour-over will that pairs with your trust.
- Florida Irrevocable Trust — when control gives way to protection.
- Florida Trust Administration — what your successor trustee actually does.
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Start Your Florida Trust →This article is for general informational purposes and does not constitute legal advice. Estate planning is highly fact-specific. Consult a licensed Florida estate planning attorney regarding your individual circumstances. Arthur Simpson, Esq. is licensed to practice law in the State of Florida.