I Don't Care What Your Lawyer Says - You Need a Trust

Have you been told that you don't need a revocable trust because you don't own 2 million dollars worth of assets? This may be true if all you care about is estate taxes. However, the main reason for setting up a revocable trust is to avoid probate and the cost and inconvenience associated with it. While a trust can minimize or eliminate estate taxes for persons with a net worth of over 2 million dollars, the benefits of avoiding probate are available to almost anyone. And there are plenty of benefits to avoiding probate. Probate is expensive. In Florida, the law requires that the personal representative (or executor in other states) hire an attorney to help administer the probate estate.