There are numerous benefits that people can derive when they establish revocable living trusts. One of the perks, when compared with an irrevocable trust, is the ability to act as the initial trustee. The person funding the trust can manage trust resources until they...
Blended families are often built on a foundation of love, resilience and the hope of creating something lasting together. At the same time, they can often bring unique legal and emotional considerations that require thoughtful planning. When children, stepchildren and...
Parents who worry about leaving their children behind when they die can prepare in advance. They can create estate plans that name guardians to protect their children. They can also protect their children by naming them as beneficiaries in wills or trust documents....
A spendthrift clause can help protect the assets in a trust. If you're setting up a trust for someone who might not manage money well or has financial issues, this clause can make a big difference. It adds a layer of protection against debt collectors and poor...
A trust works similarly to a safety deposit box – it can protect your assets, but you must put something inside it first. If you forget to put or transfer your valuables inside, the box is just an empty container. Funding a trust simply means transferring assets into...
When you set up a trust, one of the pivotal decisions you will make is selecting the right trustee. This person or entity will be responsible for managing your trust's assets, ensuring they reach the right beneficiaries according to your wishes. Many people choose a...
Do you want to use your estate plan to motivate your loved ones to do something great? If so, then an incentive trust might be a viable option for you. Here, you identify a beneficiary to the trust, but that beneficiary will only receive the trust’s assets once they...
When Florida residents are beginning to look at estate planning, they probably have plenty of questions about trusts and how a trust might help them as a crucial part of the plan. Most likely, this is because there are many different types of trust to choose from and...
People in the Tampa area may have heard that it is almost always better to create a trust instead of just drafting a will. There is some truth to that. In many cases, a trust really is the best estate planning device for a Florida family. To give just one common...
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...
