It’s not easy to picture a time when you can’t make your own financial decisions. Yet, in Florida, that reality can come without warning, whether from an accident, sudden illness, or the gradual effects of conditions like dementia. When that happens, bills still need to be paid, investments monitored, and property maintained. Without a plan in place, your family could be stuck waiting for a court to appoint someone to take control. A revocable living trust can keep things moving without that delay.
A revocable living trust is set up while you’re able to manage your affairs. You act as the trustee while you’re well, controlling the trust’s assets. In the same document, you name a successor trustee, the person who will take over if you’re no longer able to do so.
The trust spells out how incapacity is determined. Many require written confirmation from one or more doctors. Once that happens, the successor trustee can step in immediately.
They can do the following:
If you don’t have a trust or similar planning in place, Florida law relies on the guardianship process. That means filing a petition, appointing an attorney, and having a three-member examining committee, usually including a doctor, review your condition. The court then decides which rights you’ll lose and whether a guardian is needed.
That process isn’t just slow. It’s public, and it can be stressful for your family. A revocable trust avoids that by giving your chosen trustee the authority to act immediately, but only over assets already in the trust. That’s why transferring accounts, property, and other holdings into the trust is so important.
Incapacity can be short-term or permanent. Either way, a revocable trust keeps your finances stable and your wishes clear. At Schnauss Naugle Law, we help Florida clients set up trusts that actually work when needed, choosing the right trustee, defining incapacity in clear terms, and ensuring the trust is fully funded.
Don’t leave your family guessing or battling in court. Call 904-643-6342 or complete our contact form to start building your plan today.
