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A living trust, meanwhile, is not subject to probate in Florida. Any assets that you leave in a trust can be transferred to the trust beneficiaries upon your death, according to the terms that you ...
A trust is a document that allows you to keep control of your money and property and designate who receives it once you die. “Revocable” means you can change the terms at any time while you ...
A living trust can help you to manage your assets during your lifetime and beyond. A will, on the other hand, is specifically designed to allow you to direct the distribution of your assets after ...
The ancient rule from English common law is that a trust is not established until it has property or a res. [77] However, the actual property interest required to fund and create the trust is nothing substantial. [78] Furthermore, the property interest need not be transferred contemporaneously with the signing of the trust instrument. [15]
A trust may have multiple trustees, and these trustees are the legal owners of the trust's property, but have a fiduciary duty to beneficiaries and various duties, such as a duty of care and a duty to inform. [20] If trustees do not adhere to these duties, they may be removed through a legal action.
The public trust doctrine is the principle that the sovereign holds in trust for public use some resources such as shoreline between the high and low tide lines, regardless of private property ownership.
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