There are certainly downsides to probate: the time (6-12 months in Florida) and money (3-5% of estate value up to $1 million) it requires through probate administration.
Best Advice: Work with a Competent Attorney
Whatever plan you're considering, formulate it with a competent attorney.
Probate Actually Has Some Advantages
Probate allows you to close out creditors within a 90-day window. In comparison, if someone dies with all assets in trust, there's a 2-year window for creditor claims.
Bottom Line
Consult with an attorney to develop a specifically tailored plan for your situation. Consider living trust advantages as part of your planning strategy.
