Wills vs. Trusts: Choosing the Right Tool to Secure Your Assets in Florida
When you Own Real Estate and other Valuable Assets, is it enough to just have a WILL to make sure your Family will Inherit all that they deserve?
Realtors SCOTT GARRISON and DIANA SACOTO with ReMax Town and Country Realty interview our Local Estate, Will & Trust ATTORNEY LANCE RAGLAND here in-depth on why and how to easily get a WILL and then an Affordable TRUST to Protect the Real Estate and Valuables you have spent a Lifetime earning and gathering!
Here in this in-depth conversation with Attorney Lance Ragland, you will know when you are planning for the future and considering your options for securing your assets! This information is yet another Service Your Locals Realtors provide to help you earn…and Keep…a Fortune!
The Problem: Your Will Guarantees Probate
Many people believe a simple Will completes their estate plan. While a Will successfully directs where your assets go and names a personal representative, it has one major flaw: it practically guarantees that your estate will go through Probate.
Probate is the mandatory, court-supervised process of validating a Will and settling an estate. In Florida, this process is painful for your family:
It’s Slow: A typical probate takes 6 months to over a year, freezing your assets and delaying distributions.
It’s Expensive: The legal fees are significant, often calculated as a percentage of the estate’s value. Attorney Ragland notes that a standard probate can easily cost $10,000 or more.
It Creates Burden: Your heirs must pay for the upkeep, taxes, and mortgage on your property for up to a year before they can legally sell or even own it.
In short, a Will saves you a little money now only to stick your children with a massive bill, years of hassle, and public court records later.
The Solution: The Revocable Living Trust
The better, more comprehensive tool for nearly every family is a Revocable Living Trust.
A Trust is an efficient legal structure that allows you to manage your assets during your lifetime and then transfer them seamlessly to your chosen beneficiaries upon your passing—without the need for probate.
Key Advantages of a Trust:
Avoids Probate: This is the most critical benefit. Assets held in the Trust are distributed privately and quickly, saving your family months of waiting and thousands of dollars in fees.
Protects Minor Children: If you have children under 18, a Will may force the court to appoint a costly guardianship to manage their inheritance. A Trust allows you to choose a trustee to manage funds until the child is mature enough (e.g., age 25).
Handles Complexities: Blended families, second marriages, and special needs dependents require detailed provisions that Florida inheritance law often fails to provide. A Trust gives you full control.
Attorney Ragland’s philosophy is simple: he wants you to be in control of your estate, not the State of Florida.
The Cost of Planning vs. The Cost of Doing Nothing
Lance Ragland provides a free initial consultation because he knows education is key.
You spent a lifetime accumulating your assets. Don’t leave your loved ones a bill and years of frustration. Spending around $3,000 now is the best gift you can give your family.
Lance Ragland has the local expertise (having grown up right here in Seminole County) and the personal approach to guide you through this process efficiently.
Your Next Step
If you own property, have children, or simply care about where your assets go, you need a plan.
Ready to stop making the $10,000 mistake and secure your family’s financial future? Contact Lance Ragland’s office for assistance.
And for anything having to do with Orlando – Central Florida Real Estate, always first call Realtors Scott Garrison and Diana Sacoto… the Experienced Realtors You Already Know !
