In Florida, we are a high dollar probate state. In other words, it costs a lot of money to settle your estate after your death. It costs a lot of money to transfer the assets to the beneficiaries after your death. In Florida, that expense can run about 6%, 3% for fees and costs and 3% for your personal representative's fee. So 6% of basically what you have in your checking, your savings, your non-retirement investment accounts can be a lot of money, can be $20,000.00, $30,000.00 dollars. When that amount is that high, you need to consider instead of using a last will and testament as your main estate planning document, use a revocable trust. The reason why is because it saves the family a lot of money. You are naming a successor trustee in the revocable trust, who you give the authority ahead of time to transfer the assets after your death without a court order. 

                    

Now, having said that, this only works if you have good talent on your bench. So, in other words, if you can name a child or a brother or a sister or a good friend who you know is honest and conscientious and good with follow up and good with paperwork, then you have the perfect trustee and it will save a ton of money for your family to use a revocable trust as your main estate planning document in Florida.