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A will-based estate plan uses a Last Will and Testament as the primary tool for distributing your assets after death. These plans go through probate, which is the court-supervised process of settling your estate. Probate in Florida can be time-consuming and public, and it may delay access to assets for your loved ones.
A trust-based estate plan uses a Revocable Living Trust to hold and manage your assets during your lifetime and distribute them after your death. If properly set up and funded, a trust-based plan can avoid probate entirely. It also allows for more privacy and control, especially if you own property in multiple states or want to stagger distributions to beneficiaries.
Both types of plans can include the same supporting documents, like powers of attorney and healthcare directives, but they differ in how your assets are managed and transferred. For a deeper comparison, check out our guide to Trusts vs. Wills in Florida.
Your will serves as the foundation of a will-based estate plan, allowing you to:
In Florida, a valid will must be signed in the presence of two witnesses who also sign the document. Without a will, Florida’s intestacy laws determine who inherits your assets, which may not align with your wishes.
This serves as the cornerstone of a trust-based plan, offering significant advantages for many Florida residents:
Florida’s homestead laws make trusts particularly valuable for property owners who want to avoid restrictions on how their primary residence can be distributed after death.
Even with a trust-based plan, you’ll still need a special type of will that “catches” any assets not transferred to your trust during your lifetime and “pours” them into your trust upon death. This ensures all assets ultimately follow your trust instructions, though assets caught by the pour-over will must go through probate.
This estate planning document designates someone to manage your financial affairs if you become unable to do so. In Florida, a durable power of attorney:
Without this document, your family may face costly guardianship proceedings to gain authority over your finances.
This document outlines your wishes regarding life-prolonging procedures if you have a terminal condition, end-stage condition, or are in a persistent vegetative state. It provides clear instructions about:
This document names a trusted person to make medical decisions on your behalf when you cannot. Your healthcare surrogate:
Unlike a living will which addresses specific end-of-life scenarios, your healthcare surrogate can make decisions in any situation where you’re unable to communicate.
This allows your designated representatives to access your medical information—critical for those making healthcare decisions on your behalf.
Your family may be forced to go through guardianship court just to access your accounts or make basic financial decisions.
I once worked with an elderly man whose wife suffered a traumatic brain injury after a fall. She was unconscious for months. It was too late for her to sign estate planning documents, and he couldn’t even get updates from the hospital, let alone make decisions about her care or finances. We had to petition the court for guardianship, which meant hiring lawyers, attending hearings, and waiting weeks for approval. All while he was trying to manage a medical crisis.
Many people assume that being married gives you automatic authority in emergencies. It doesn’t. Hospitals and financial institutions follow the law, not assumptions. A signed power of attorney is what gives you legal authority, not your last name.
Other serious consequences of not having a proper plan in place could include:
I know how emotionally heavy this process can feel. For many clients, it’s the first time they’ve had to think seriously about mortality. That’s not easy. My job is to make it easier.
Contact us at (941) 441-9193 to schedule a consultation and take the first step toward protecting your family’s future. Having the right estate planning documents in place is one of the most thoughtful gifts you can give your loved ones. Let us help you through it.