Although some assets may not have to go through probate, they may nevertheless count toward an estate's valuation.
When people in Florida sit down to work out their estate planning, they often think of the standard sorts of beneficiaries: children and grandchildren, spouses or charitable organizations. One way people can ensure that their loved ones are taken care of is via a trust, which can specify a trustee who can administer funds for another person or for an organization.
Many Miami-area residents have probably already considered their estate plans and what they want to happen to their assets when they die. For those who have not or who want to change their estate plan, a trust created by one man demonstrates just one way in which one's estate can be used to help others.
A person may work for years earning and saving money and then put the assets into a trust. Deciding where to keep these assets should not be taken lightly. The person who earned this money probably worked hard so he or she could offer this money to heirs, potentially including a spouse and children. As these assets likely took a long time to earn, placing them in a safe location and under the care of a trusted individual is important.