insuring a living trust

[dwightw]

In Florida, is a Revocable Linving Trust an entity that can be sued??

We set up a Revocable Living Trust to avoid probate and (at that time) estate tax - now the exemption takes care of us) and our attorney said to title our house and cars in the name of the trust.

Our auto insurane is in our name. Our insurance company will not name the trust. If we get sued because we were negligent in a car wreck, the other parties attorney might see the car is owned by the trust. Could he name the trust in a suit? I doubt that our company would defend us? If the judgement was given to the trust, our insurance may not pay?

Anyone with any insights on this? I have searched the statute and the constitution and see no mention of any of this.

 

[BlondiePB]

In Florida, is a Revocable Linving Trust an entity that can be sued??

We set up a Revocable Living Trust to avoid probate and (at that time) estate tax - now the exemption takes care of us) and our attorney said to title our house and cars in the name of the trust.

Our auto insurane is in our name. Our insurance company will not name the trust. If we get sued because we were negligent in a car wreck, the other parties attorney might see the car is owned by the trust. Could he name the trust in a suit? I doubt that our company would defend us? If the judgement was given to the trust, our insurance may not pay?

Anyone with any insights on this? I have searched the statute and the constitution and see no mention of any of this.

Your property in trust is subject to creditors and lawsuits. The good news is that personal vehicles (cars, etc.) are exempt from probate in FL.

 

[Calif Attorney]

Automobile / car / vehicle in revocable living trust (RLT)

Cars, unless if they are collector's items or otherwise especially valuable, aren't usually placed in a living trust. If not subject to probate in FL (no idea personally [even if worth $1 million?]), then all the more reason not to be in RLT, it would seem to me, especially if the transfer also causing insurance difficulties.

 

[moburkes]

Cars, unless if they are collector's items or otherwise especially valuable, aren't usually placed in a living trust. If not subject to probate in FL (no idea personally [even if worth $1 million?]), then all the more reason not to be in RLT, it would seem to me, especially if the transfer also causing insurance difficulties.

Thanks for responding to a 2 year old thread. Appreciate it!