Inter Vivos Trust in Florida
An inter vivos trust (living trust) is a trust created during the grantor’s lifetime under Chapter 736, Florida Statutes. It is the cornerstone of Florida estate planning, enabling probate avoidance, privacy, and continuity of asset management.
Revocable vs. Irrevocable
- Revocable: Grantor retains control, can amend or revoke. No estate tax benefit. Becomes irrevocable at death.
- Irrevocable: Grantor gives up control. May provide estate tax and asset protection benefits.
Benefits
- Probate avoidance (assets pass directly to beneficiaries)
- Privacy (trusts are not public record)
- Incapacity planning (successor trustee manages without court)
- Multi-state property management (avoids ancillary probate)
- No Florida state income tax on trust income
Creation Requirements
- Grantor with legal capacity (18+, competent)
- Written trust document signed by grantor
- Definite beneficiary or charitable purpose
- Lawful purpose
- Trust must be funded (assets transferred in)
- Trustee designated (grantor can serve)
Related Terms
- Irrevocable Trust — Permanent trust structure
- Probate — Court-supervised estate process
- Estate Planning — Asset transfer planning
- Trustee — Trust administrator
Barnes Walker Trust Services
Barnes Walker’s estate planning attorneys create and administer inter vivos trusts for families in Manatee and Sarasota counties. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 736 (Florida Trust Code)
The Florida Trust Code governs the creation, modification, and administration of trusts, including trustee duties, beneficiary rights, and trust termination.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC