Trusts can be adapted to many purposes and come in a variety of forms. One type is known as a land trust, in which the document forms a legal entity that holds real estate for the benefit of its named beneficiaries. Creating the trust In Florida, individuals can set...
If you are creating a trust in Florida, one of the most important decisions you will have to make is who will serve as your trustee. A trustee is the person or entity that manages the assets of the trust and distributes them to the beneficiaries according to your...
Drafting a will provides Floridians the ability to direct how their hard-earned assets are passed on to loved ones. A person signing a will — known as the testator — wants to avoid the potential for a challenge to the validity of the will. For example, there could...
Many people choose to create a living trust as part of their estate plans. A trust serves as an estate planning tool that allows for certain assets to be distributed when the time comes. As the person creating and funding the trust, you are the grantor or settler of...
Many people spend their whole lives earning income, investing their money, and purchasing property to make sure that they have accumulated enough wealth to take care of themselves and their families. As we get older, many of us start thinking about passing on some or...
A comprehensive estate plan is typically composed of a number of different documents. A will, power of attorney documents, trusts—these, among others, may be a part of any given estate plan. These types of estate planning documents come into effect due to varying...
Many assume that estate planning is only for older or wealthier individuals. In fact, there are multiple reasons that estate planning is important for any adult. Protect your beneficiaries Among the most important reasons for estate planning is to protect those who...
As a Florida parent, you want to know that your child will be taken care of if something happens to you. This can be done through the appointment of a preneed guardian. The purpose of appointing a preneed guardian is to have someone who is willing to step into this...
We often discuss trusts on this blog. In a recent post, we discussed the question of whether you could use more than one trustee. Another key question that deserves its own post: How do I choose a trustee for a trust? The family option When setting up a trust, there...
As readers of this blog know, when you estate plan, you should use a power of attorney and/or trusts, depending on our specific needs (and the advice of your lawyer). However, what many may not know is that in Florida, a power of attorney can get superpowers that are...
