Florida - My wife and I are Trustees as well as Guardians for 2 children whose mother recently passed away. The executor of the Will never file for probate. The mother's attorney file the Will with the county Probate office at our request after the mother passed away.
I will like to create a Trust account with a bank and have life insurance money deposited. The estate was less than $15k which means that probate is not required in Florida. The Life Insurance was left to the Trust which was to be created after the Will was filed with the court. (The mother's attorney provided the language required for the life insurance company to change the beneficiary to the testamentary trust.)
I would love it to just submit an "Acceptance of Trust," get an SS4 for each child and create the trust accounts.
Can anyone familiar with Florida law help me understand what is required?
I will like to create a Trust account with a bank and have life insurance money deposited. The estate was less than $15k which means that probate is not required in Florida. The Life Insurance was left to the Trust which was to be created after the Will was filed with the court. (The mother's attorney provided the language required for the life insurance company to change the beneficiary to the testamentary trust.)
I would love it to just submit an "Acceptance of Trust," get an SS4 for each child and create the trust accounts.
Can anyone familiar with Florida law help me understand what is required?