A Last Will and Testament and a Revocable Living Trust are the cornerstones of estate and tax planning for individuals living in Florida. With assets of cash, real estate, investments and business interests, the use of a revocable living trust agreement can help coordinate an estate plan to take care of the individual during their life even if they become disabled or incompetent to handle their own affairs. A revocable living trust provides the ability to plan for needs and desires using the individual's assets, and it allows them to appoint whomever they wish to assist and handle legal and financial matters for them. One of the best advantages of using the revocable living trust in Florida is that assets which are "titled" in the trust name are not subject to probate fees upon the death of the individual. That can be a tremendous savings of fees, and thus provide more assets for the beneficiaries, whether they are family, friends, or charities. However, even with the use of a trust, it is essential to have a Last Will and Testament. This provides a mechanism to appoint the executor (personal representative) of one's estate and a way to make bequests and to "roll-over" the assets to the trust to complete the distribution of one's assets in the manner they had planned. If minor children are involved, the Last Will and Testatment is crucial to appoint the guardian's of these minor children. If you are wanting to find out how you can reduce or even eliminate gift and or estate taxes, then you should consider having a tax attorney review your documents, and if necessary, draft a Last Will and Testament and a Revocable Living Trust for you. And consider... no one knows when they will be called home, but until then we go by the grace of God.