An executor of a Florida estate who lives out of state will likely have to appear in court in order to be named executor. The executor will also have to be present in order to change title for real estate, for making arrangements to sell or close accounts, and may also have to be present to actually close on any real estate deals. If a testator creates a living trust and places all of his assets and real estate in the trust, the control of all the assets in the trust goes to the successor trustee or co-trustee without any court appearance. It can also save the executor the time and expense of going through probate.
Organizing All Your Assets in One Place with a Trust
A living trust not only makes managing assets easier for an executor, but it can make managing assets easier while the testator is alive. Putting all real estate and assets under one umbrella in a living trust means the testator can keep control and make decisions as long as he wishes to, and he can transfer control of the trust at any time if he decides he no longer has the time or the mental capacity to manage things.
Estate Planning Attorney