How are creditors satisfied?
Trust laws in Florida do not specify an exact process for discovering and fulfilling creditor claims upon a person’s death. In fact, creditors have two (2) years after a persons death to file a claim against the estate. For this reason a Trustee may be hesitant to distribute the trust assets until satisfied that all claims have been paid. Some people choose to create a probate estate as well, to take advantage of the three month limitation it places on creditor claims, and the claim objecting process it provides.
