What Are the Disadvantages of a Trust? 

While a revocable living trust is a good estate planning option for many, there are some disadvantages to a revocable living trust. When you meet and discuss your estate plan with a member of the Wildoner Law team, we review your assets and other factors to determine what the best plan is for your unique situation.

One of the most common disadvantages is the upfront cost is usually more expensive than a last will and testament, though the reason for this is valid. A trust requires more time to draft and when done properly, can save you money on the backend when it comes to distributing assets to your beneficiaries.

Another disadvantage is to properly fund and set up your trust, it can be time consuming. Depending on how many assets you have that you wish to place in the trust, it can take significant time and effort to move everything properly into the trust.

The third common disadvantage to a trust is that they are not always properly funded. If a trust is not properly funded, it can mean that the assets that were intended to avoid probate wind up going through the process anyways.

Florida Estate Planning Attorney

If you are in Florida and are interested in discussing estate planning and whether a trust is a good fit for your estate plan, contact us today. If you are ready to get started on your Florida estate plan, you can do so here.