Trust property includes assets that are held in the name of the Trust, assigned to the Trust, or transferred by Will to a Trust. Once titled in the name of the Trust, the assets are governed by the Trust document.
Florida law outlines specific requirements and duties for Trustees, Co-trustees, Successor Trustees and qualified beneficiaries. If you are inheriting property, gifting or bequeathing assets, or buying or selling property held in a Trust, you should be aware that there are specific legal requirements for each of these situations. Speak with your attorney regarding Trust property.
-Emily A. Helmick, Esq.