Estate planning is a crucial process to ensure that your assets are managed and distributed according to your wishes. In Florida, a key component of estate planning is the Notice of Trust, a legal document that plays a significant role in managing a trust after the trust creator’s passing. At Lumsden Law, we specialize in guiding Florida residents through the complexities of estate planning, including the proper use of a Notice of Trust. 

What Is a Notice of Trust? 

A Notice of Trust is a document filed with the local probate court in Florida to notify creditors and interested parties that a decedent’s assets are held in a trust. This document is necessary when a revocable living trust becomes irrevocable upon the death of the trust creator (grantor). The purpose is to streamline the administration process, protect trust assets, and limit the timeframe for creditor claims. 

Legal Requirements for a Notice of Trust in Florida 

Florida law (Florida Statutes Section 736.05055) mandates that the trustee of a revocable trust must file a Notice of Trust with the circuit court in the county where the decedent resided at the time of death. The document should include: 

• The name of the trust creator (decedent) 

• The name of the trustee (the individual or entity managing the trust) 

• The date of the trust’s creation 

• A declaration stating that the trust is in effect 

The filing of the Notice of Trust serves as a formal declaration that the trust exists and that the decedent’s assets are subject to the terms of the trust, rather than standard probate procedures. 

How a Notice of Trust Protects Beneficiaries 

By filing a Notice of Trust, the trustee ensures: 

1. Limited Creditor Claims: Creditors have only two years from the date of death or a shorter period (typically 90 days) from the date of publication of the notice to file claims. 

2. Efficient Asset Distribution: Since assets held in a trust bypass probate, beneficiaries receive their inheritance faster. 

3. Legal Protection: A properly filed Notice of Trust helps prevent legal disputes among beneficiaries and creditors. 

What Happens If a Notice of Trust Is Not Filed? 

Failure to file a Notice of Trust can lead to complications such as: 

• Delays in trust administration 

• Extended creditor claim periods 

• Potential legal challenges from beneficiaries or creditors 

To avoid these issues, Lumsden Law ensures that all required documents are filed correctly and on time. 

Steps to Filing a Notice of Trust in Florida 

At Lumsden Law, we streamline the Notice of Trust filing process by following these steps: 

1. Gather Necessary Documents – Obtain a certified copy of the trust agreement and the death certificate. 

2. Draft the Notice of Trust – Ensure that all required information is included in the document. 

3. File with the Probate Court – Submit the Notice of Trust to the circuit court in the decedent’s county of residence. 

4. Notify Beneficiaries and Creditors – Inform interested parties about the trust and its administration timeline. 

Common Misconceptions About Notices of Trust 

• A Notice of Trust replaces a will: While a trust can distribute assets without probate, a will is still essential for naming guardians, handling non-trust assets, and addressing other legal matters. 

• Trusts are only for the wealthy: Trusts benefit individuals of all financial backgrounds by simplifying estate administration and ensuring privacy. 

• Once filed, the trust becomes public: Unlike a will, the actual trust document remains private; only the Notice of Trust is filed publicly. 

How Lumsden Law Can Help 

Lumsden Law provides expert guidance on estate planning, ensuring that clients comply with Florida laws and avoid legal pitfalls. Our services include: 

• Trust creation and administration 

• Proper filing of Notices of Trust 

• Probate avoidance strategies 

• Asset protection planning 

Conclusion 

A Notice of Trust is a vital legal tool that simplifies estate administration, protects assets, and limits creditor claims. By partnering with Lumsden Law, you ensure that your trust is properly established and administered in compliance with Florida law. Contact us today for a consultation on your estate planning needs. 

Free Consultation 

For expert legal assistance with your estate planning, including the filing of a Notice of Trust, contact Lumsden Law. Let us help you secure your legacy and protect your loved ones.