When a person passes away in Florida, there are a few ways their estate may be settled. During the estate administration process, the property and assets of a decedent are identified, collected, and distributed to their rightful beneficiaries.
A person or entity granted administrative control of a trust is called a trustee. If you have been appointed as a trustee in the Sunshine State of Florida, you have obligations under the law regarding administration of the trust.
Many people retire to Florida because it has the reputation of being a tax friendly state. For example, there are no state income taxes in Florida, which means pensions and retirement plans are free from taxes.