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A land trust is a special way of holding title to real estate that is sometimes used in Florida. While they can serve certain purposes, they are not a one-size-fits-all estate planning solution. Understanding how land trusts work—and when they make sense—can help you decide whether this tool is right for your situation.

What Is a Land Trust?

A land trust is an agreement where a trustee holds legal title to real estate, but the true ownership (called the “beneficial interest”) remains with one or more beneficiaries. In most cases, the trustee follows the instructions of the beneficiary, and the trust can be revoked or changed at any time.

Unlike a revocable living trust, which is designed to cover your overall estate and avoid probate, a land trust is limited to a specific property.

Why People Use Land Trusts

Land trusts are most commonly used for:

- Privacy – Only the trustee’s name appears in the public records, which can keep an owner’s name off the deed.

- Ease of Transfer – The beneficial interest in the trust can be reassigned without recording a new deed.

- Real Estate Investment – Investors may use land trusts to hold multiple properties or streamline sales and purchases.

- Partition Protection – Co-owners can agree that the property cannot be split up without consent.

Limits of a Land Trust in Florida

While land trusts can sound appealing, there are important limits to keep in mind:

- No Asset Protection – Creditors can still reach the beneficiary’s interest.

- Homestead Complications – Florida’s homestead laws make land trusts less useful for primary residences.

- Not a Probate Shortcut by Themselves – Unless combined with broader estate planning, a land trust alone will not keep property out of probate.

- Extra Complexity – Setting up and managing a land trust requires more documents and oversight than many families need.

When a Land Trust Might Make Sense

For most Florida families, tools such as a revocable living trust or an enhanced life estate deed (Lady Bird deed) are more effective for avoiding probate and protecting loved ones. However, a land trust may be appropriate if:

- You own investment property and want privacy or flexibility.

- You are co-owning property with others and want clear rules against partition.

- You are actively buying and selling real estate and want smoother transfers.

Conclusion

Land trusts are a niche tool that can be helpful in certain real estate or investment situations. For general estate planning in Florida, other options usually provide better results with less complexity.

If you have questions about whether a land trust makes sense for you—or whether another approach would better meet your needs—contact Bart Scovill, PLC for a consultation. https://scovills.com/?p=3161

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Leaving money to a child or grandchild may seem straightforward—but in Florida, things get more complicated when a minor is involved. The state has clear rules about how much a minor can inherit before court involvement is required, and those rules impact both estate planning and estate administration.

Here’s what you need to know—whether you're planning ahead or managing an inheritance that’s already been left to a child.

Florida Law: Minors and Inheritance

In Florida, a minor is anyone under age 18. Minors cannot directly inherit or take control of money—even if they’re listed as beneficiaries. Instead, the law provides different paths depending on how much is left to the minor and how it’s structured.

If the Minor Inherits $15,000 or Less

Under Florida Statutes §744.301(2), if the total value of money or property left to a minor is $15,000 or less, a natural guardian (usually a parent) can receive and manage those funds without court involvement.

This is true whether the inheritance comes from:

- A will or trust,

- A payable-on-death account,

- Life insurance or retirement account,

- A settlement or gift.

Conditions:

- The $15,000 cap is cumulative. If multiple gifts or sources exceed the total, court-supervised guardianship may still be required.

- The natural guardian does not have to be court-appointed, but they are still legally responsible for using the funds for the minor’s benefit.

If the Minor Inherits More Than $15,000

Once the amount exceeds $15,000, Florida law requires the appointment of a guardian of the property unless the money is placed into an alternative structure such as a trust or custodial account.

Guardianship of the Property:

- Requires a court petition and formal appointment.

- The guardian must post a bond or use a restricted depository account.

- Annual accountings must be filed with the court.

- Court approval is required for most expenditures.

This process is often time-consuming and expensive, and it lasts until the child turns 18.

Alternatives to Avoid Guardianship

The good news is that guardianship is often avoidable—especially with good planning. Here are the most common strategies:

1. Revocable or Testamentary Trusts

A trust can be created during your lifetime or in your will to hold funds for a minor. A trustee (often a trusted adult or financial institution) manages the funds until the child reaches a specified age—21, 25, or even later.

Benefits:

- Avoids court involvement.

- Allows long-term management.

- You control distribution timing and conditions.

2. Florida UTMA Accounts

The Uniform Transfers to Minors Act (UTMA) allows you to name a custodian to manage funds until the child reaches age 21, or 25 if specifically stated.

Benefits:

- No court involvement.

- Simpler than a trust.

- Can be used for gifts, inheritances, or life insurance proceeds.

3. Structured Settlements

In personal injury or wrongful death cases, funds can be placed in a structured settlement annuity, often approved by the court, which delays payouts until the child is older.

4. Payable-on-Death to a Custodian or Trust

Instead of naming a minor directly as a beneficiary, you can name:

- A custodian under UTMA, or

- A trustee of a minor’s trust.

This avoids automatic guardianship and ensures responsible management.

What Happens at Age 18?

If no alternative structure is in place, and the funds are held under a guardianship, the full amount must be turned over to the child at age 18—even if they’re not ready to handle a large inheritance.

Trusts and UTMA accounts can delay full access until a more mature age, such as 21 or 25, which often leads to better outcomes.

Real-World Examples

Example 1: $10,000 from a Grandparent

A child inherits $10,000 under a will. The funds are released to the child’s mother as natural guardian. No court involvement is required.

Example 2: $50,000 Life Insurance Proceeds

A father passes away and names his 16-year-old son as the beneficiary of a $50,000 life insurance policy. A guardian of the property must be appointed, unless the funds are redirected to a UTMA account or trust.

Example 3: Trust in a Will

A grandmother leaves $100,000 to her granddaughter in a trust that delays distributions until age 25, with the trustee having discretion to use the funds earlier for education or support. This avoids any need for guardianship.

Conclusion: Plan Carefully to Protect the Minor and Avoid Guardianship

Leaving money to a minor is common—but failing to plan ahead can create serious problems. Court-ordered guardianships are expensive, slow, and end at age 18—whether or not the child is ready.

By using tools like trusts, UTMA accounts, and beneficiary designations, you can make sure your gift is protected and responsibly managed.

If you’re planning to leave money to a minor or administering an estate involving a minor beneficiary, contact Bart Scovill, PLC. We’re experienced in helping Florida families navigate these rules and protect what matters most. https://scovills.com/?p=3026

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In today’s world, our lives are increasingly tied to the digital world. From bank accounts and cloud storage to social media profiles and email accounts, digital assets now make up a significant portion of a person’s legacy. But what happens to those digital accounts when you die? And how can you plan ahead so your loved ones aren’t left in the dark?

This article explores what Florida residents need to know about digital assets after death—and the estate planning steps you can take now to ensure they’re handled properly.

Understanding Digital Assets

Digital assets can include:

- Financial accounts (e.g., PayPal, Venmo, cryptocurrency wallets)

- Email accounts (e.g., Gmail, Yahoo)

- Social media profiles (e.g., Facebook, Instagram, LinkedIn)

- Photo and file storage (e.g., iCloud, Dropbox, Google Drive)

- Online subscriptions (e.g., Netflix, Amazon Prime, Spotify)

- Domain names, websites, or online businesses

These accounts are often protected by passwords, two-factor authentication, and privacy laws, making access difficult for family members after death.

Florida Law and Digital Assets

Florida has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA). Under this law:

- You can give legal authority to someone (such as your personal representative or trustee) to access your digital assets after your death.

- Online tools take precedence. Some platforms, like Google and Facebook, allow you to name a legacy contact or specify what happens to your account after death. These tools override directions in your will or trust.

- Without clear authority, access may be denied. Most companies won’t share information with your family unless the law specifically permits it, or you’ve given written permission in advance.

How to Plan for Your Digital Assets

1. Take Inventory

Start by listing all your digital accounts and where to find them. Include login URLs, email addresses, and a general description (but don’t include passwords in your estate planning documents).

2. Use a Password Manager

Consider using a secure password manager like LastPass or 1Password that can be accessed by a trusted individual upon your death or incapacity.

3. Name a Digital Executor

In Florida, you can authorize your personal representative, trustee, or another trusted person to manage your digital assets. This should be done explicitly in your will or trust and with language that complies with RUFADAA.

4. Check for Online Tools

Go through each major digital platform and activate any legacy or inactive account manager tools they offer. These are legally binding under Florida law.

5. Write Out Instructions

Even if legally binding instructions are in place, it’s helpful to leave personal wishes: Should your Facebook be memorialized or deleted? Who should access your cloud-stored photos? Should your email be deleted or reviewed?

Common Mistakes to Avoid

- Forgetting to update digital access when you change passwords or add new accounts.

- Assuming loved ones will "figure it out." They may not even know your accounts exist or be able to legally access them.

- Relying on paper lists of passwords without a clear plan or authority in place.

Conclusion

Digital assets are just as important as physical ones in today’s estate plans. Without proper planning, your loved ones may lose access to sentimental photos, financial accounts, or important information.

If you have questions about how to incorporate digital assets into your estate plan, contact Bart Scovill, PLC. We are experienced in helping Florida residents create comprehensive, forward-thinking estate plans. https://scovills.com/?p=2459

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