Most people are familiar with Florida probate. If someone passes away testate or intestate but has property that is owned in the decedent’s individual name, typically a summary or formal administration will have to be filed in court to transfer clear title of the asset. Summary and Formal Administrations are typically avoided with the creation and proper funding of a Living Trust also known as a Revocable Trust.
Many times, people are not familiar that a Notice of Trust filing will still need to occur when the Grantor or Settlor of a Trust passes away. So, what is a Notice of Trust? A Notice of Trust is a document that is filed with the probate in the county that the Grantor or Settlor was domiciled in and where the court has jurisdiction of their estate. The Successor Trustee appointed in the Living Trust document has many fiduciary and administration duties, one of which is filing of the Notice of Trust. The Notice of Trust should be filed soon after the Grantor or Settlor’s death.
What information is contained in the Notice of Trust document that is filed in the probate court? The Notice of Trust must have the name of the Grantor or Settlor, their date of death, name and date of the Trust along with the Successor Trustee’s address. The Notice of Trust will also contain the language provided for in Section 733.607 of the Florida Statutes.
When the Notice of Trust is filed, the public is then put on notice of the existence of the Trust and basic information.