Trusts

• A trust is a legal entity similar to a corporation or other entity that only exists as a function of specific laws. When a person creates a trust, he creates a separate legal entity that has the ability to own property just like a person. The trust creator, known as the settlor, transfers ownership of property to the trust so the trust becomes the new owner. The trust is then run by a person, known as a trustee, who is responsible for ensuring the property is cared for.
  
  

Wills

• Wills are a kind of legal document a person, known as a testator, uses to ensure his property gets distributed after he dies. Florida wills must be made in writing, signed by the testator and signed by two adult witnesses. The testator can make a will at any time as long as he is an adult and of sound mind, meaning that he is capable of making his own decisions.
  
  

Trusts in Probate

• The probate process is the legal procedure that takes place after a person dies. The property the person owned, called the estate, must then get transferred to new owners, and the way this is done is governed by probate laws. Trusts are often used to avoid this process as much as possible. A person can, for example, create a trust during his lifetime and place certain property within it. When the person dies, the property the trust owns is not subject to probate because the decedent is not the owner and the trust is still allowed to administer it.
  
  

Wills in Probate

• Trusts are not a substitute for a will, and a will is not the same as a trust. Any property a testator owns that is not transferred to a trust is subject to probate, and a will is the only document that can ensure this property is redistributed in accordance with the testator's wishes. If a person dies without a will, Florida's laws of intestate succession determine how the property is distributed. These laws apply automatically unless the person creates a will.