ESTATE PLANNING IN MIAMI BEACH-FLORIDA HOMESTEAD LAW- TRUSTS VS TENANCY BY THE ENTIRETY?

April 3, 2025

In Florida, the choice between tenancy by the entirety (TBE) or separate trusts for homestead property involves unique considerations due to the state’s strong homestead protections, creditor laws, and estate planning rules. Every situation is unique and requires an estate planning attorney with experience and sensitivity to determine what is best for you. Do you have children from a previous relationship? Are estate death taxes a consideration? Let’s look further into this topic as there are benefits to both options. As always, please call me to discuss your specific situation.

WHAT ARE THE BENEFITS TO HOLDING REAL ESTATE AS TENANCY BY ENTIRETY?

  1. TBE provides strong asset protection. Florida law provides exceptional creditor protection for homestead property. For example, if one spouse is sued, the home is protected. 
  2. No probate is needed. The home automatically passes to the surviving spouse upon the death of the first spouse. 
  3. The homestead exemption and protective status remains on the property. 

WHAT ARE THE BENEFITS TO HOLDING REAL ESTATE IN TRUST?  

  1. TBE is only available to married individuals. Long term relationships or giving your property to loved ones will need to be done inside of a trust. 
  2. No probate is needed; the home passes upon the death of grantor as they direct it in their trust. 
  3. The homestead exemption and protective status remains on the property with proof to the homestead office that you still live in the home. 
  4. More control over inheritance and who gets what upon death of each spouse which can be very helpful in second or third marriages with separate children and separate loved ones. 
  5. Estate tax planning and staggering ages that children have full access to assets can be done within a trust. 

WHY SHOULD I USE ALLY M. GLASER, PA TO HANDLE MY WILLS AND TRUSTS, ESTATE PLANNING, AND PROBATE MATTERS?

I sell peace of mind and protect my clients and their loved ones with my holistic approach to estate planning. I am authentic, knowledgeable, and caring. As an Estate Planning, Wills and Trusts and Probate Attorney in Miami Beach, Florida with over twenty-eight years of experience and both a Psychology and Law degree, I handle these matters with knowledge and sensitivity. I am familiar and comfortable with both the Miami-Dade probate court system and Broward County probate court and I know how to get things done. I handle both estate planning and probate cases, thus, I am familiar with the challenges of each and provide my clients with additional protections. Call or email me today to discuss your matters.  I am happy to help you and your loved ones during this important process.