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As per the Public Trust Act of all states, registration of Trust is mandatory if it involves charitable purpose or when there is a transfer of immovable property in the name of the trust. Only registered trust is eligible for tax exemptions provided under Section 12 A and 80G of the Income Tax Act.
A trust may also be set up by a will, which leaves property in trust for a beneficiary. These trusts are called testamentary trusts and are usually irrevocable. Trusts are not filed or registered with the Court.
There are two main types of trusts: revocable and irrevocable.
In Florida, a notice of trust is the formal notice that a trustee provides to the public that the trustmaker has deceased. Upon the trustmakers death, Florida Statute 736.05055 requires that the successor trustee file a notice of trust with the court of the county of the trustmakers domicile.
A notice regarding the trust and the beginning of the trust administration period must be sent to all of the people named as beneficiaries of the trust. These notices must be sent out within 60 days of the date of the death that caused the change in the trust or initiated the trust administration period.

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A Florida living trustallows you to transfer assets into a trust during your lifetime while you continue to use them, and then have them distributed to your choice of beneficiaries after your death. Living trusts have many benefits and are an appealing estate planning option.
There is no definite timeframe stated in our statutes. But the reasonableness standard still mandates a distribution be made timely. In fact, a Trust that has no issues, and only cash, may be reasonably distributed within four or five months of the settlors death, not two years.
Between the two main types of trusts, revocable trusts are the most common. This is primarily due to the level of flexibility they provide. In a revocable trust, the trustor (or the person who created the trust) has the option to modify or cancel the trust at any time during their lifetime.
Generally, a trust beneficiary named in irrevocable a California trust has the right to see a copy of the trust instrument. A beneficiary can also ask the trustee to provide a copy of the trust document.
In Florida, putting your house in a trust avoids having to probate the home upon your death. Probate can be an expensive and time-consuming process. However, your homestead is not a probate asset and can typically be disposed of in a simplified process, although one that still often requires an attorney.

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Apr 5, 2022 Notify the surviving spouse, if any, of their right to the elective share of the trust. If no probate is opened, then notice must be sent to a

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