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 Hard Truth: Wills Don’t Avoid Probate
When we asked Lance to define his work, he said, “We help people make sure their assets are distributed the way they want, to the people they want.”
Many people believe a simple Will is all the protection they need. Lance’s response? “They’re not the best way.”
A Will is a tool that directs where your assets go and names a person to oversee that process. However, a Will must go through probate—a court-supervised process.
The Problem with Probate
Probate is the reason many families face stress and unnecessary cost after a loss:
-
Time-Consuming: It typically takes 6 months to a year to complete, during which time assets are essentially frozen.
-
Expensive: Fees can be substantial, often calculated as a percentage of the estate’s value. Lance notes that it can easily cost $10,000 or more.
-
Public: Probate records are public information.
-
Vulnerability: As a realtor, I (Scott) see the upset: your loved ones have to maintain the property for a year, paying all expenses, before they legally own it.
The Best Solution: The Revocable Living Trust
Lance prefers using a Revocable Living Trust because it’s a comprehensive solution that can help avoid probate entirely.
A Trust gives you control that a Will simply can’t:
-
-
Avoids Court: Assets held in a Trust are distributed privately and quickly, saving your family time, money, and stress.
-
Asset Protection: It can provide asset protection for the beneficiaries you name.
-
Addresses the “What If”: A Trust covers what happens if your primary beneficiaries pass away before you, ensuring your assets don’t end up in an unintended court-supervised situation.
-
👨👩👧👦 Who Needs a Trust? Everyone.
“It’s just about everybody,” says Lance. If you care where your assets go, who is in charge, and about the cost of that transition, you need an estate plan.
This is especially true for:
-
Young Families: If you have children under 18, a Trust prevents the court from establishing a potentially costly and invasive guardianship to manage the kids’ inheritance.
-
Special Needs Families: As Dean personally attested, a Trust can be crucial for a child with special needs. It ensures they are cared for without eliminating their ability to receive vital government benefits.
💰 Let’s Talk Cost: Plan Now or Pay Later
Lance is transparent about fees, comparing the upfront cost of planning to the devastating cost of doing nothing:
| Plan Type | Typical Cost (Upfront) | Cost to Family Later |
| Will Package | Approx. $800 | $10,000+ in probate fees, plus time and delay. |
| Trust Package | Approx. $2,500 – $3,500 | Minimal, if any, fees. Avoids probate entirely. |
As Lance puts it: you work your whole life to accumulate your assets. You can spend $3,500 now, or you can leave your loved ones a bill for tens of thousands of dollars and years of frustration.
Lance’s process is straightforward: he provides a free initial consultation to educate you on your options, giving you an informed choice on the best path forward.
✅ Your Next Step
Don’t wait for “perfect circumstances.” Take control now.
Lance Ragland has the local roots, the personal touch, and the 27 years of expertise to secure your legacy. If you’re in the East Orlando area, make the call.
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 !
