Category Archives: Trust Planning
How To Fund A Revocable Trust
One of the main reasons people create revocable trusts is to help their loved ones avoid the probate process when they pass away. Probate is a time-consuming and expensive process and many people want to protect their loved ones from it. Revocable trusts are one of the best ways to do this, but if… Read More »
Avoid These Mistakes When Writing A Living Trust
A living trust is a legal document established by the grantor during their lifetime to protect their assets and direct the distribution of their assets upon their death. The beneficiary of a trust is the person for whom the trust is created and who generally may receive the property from the trust after the… Read More »
Should You Draft A Will Or Trust?
There are many tools available that will help you properly plan for your estate. Among these, wills and trusts are some of the most popular but they are largely misunderstood. Many people think drafting a will only causes hardship for their loved ones, as any assets contained within one must go through the probate… Read More »
Is It Possible To Modify An Irrevocable Trust?
As their name suggests, irrevocable trusts are legal documents that cannot generally be revoked or modified after it has been created and the trust has been funded. However, there are certain exceptions to this that may make it possible to make changes at some point. Below, our St. Petersburg trust planning lawyer explains further…. Read More »
FAQs About Living Trusts In Florida
Living trusts are an important part of many estate plans in Florida. A living trust essentially acts as an intermediary between you and those you have named as beneficiaries. They are a conduit used during your lifetime and after you pass away. When considering making a trust part of your estate plan, you will… Read More »
Assigning A Trustee For A Loved One’s Special Needs Trust
If you are caring for a loved one with special needs, you may worry about what will happen to them if you are no longer able to provide their necessary care. The decision of who will take care of their health, living, and financial needs is a very serious one. Fortunately, there are tools… Read More »
Three Reasons Many Trusts Fail
If you have a Florida estate plan, it may include a trust. A trust is a legal document into which assets are placed to be distributed to beneficiaries in the event the grantor (person who created the trust) passes away. Trusts are important estate planning tools that allow loved ones to avoid the probate… Read More »
Third Party Vs. Self-Settled Special Needs Trusts
Special Needs Trusts (SNTs) are a special type of trust used to protect a person’s ability to continue receiving needs-based government benefits, primarily Medicaid and Supplemental Security Income (SSI). Because a beneficiary of such programs cannot legally more than a specified amount of assets, it is often necessary to create a SNT to ensure… Read More »
Does A Revocable Trust Have To Pay Federal Income Tax?
Revocable trusts are the simplest form of trusts used in estate planning. A trust is a legal arrangement whereby a grantor transfers certain assets to a trustee, who then holds those assets for the benefit of certain beneficiaries. In the typical revocable trust, these are all the same person. That is to say, if… Read More »
Land Trust: What Is It And What Are The Benefits?
Many Floridians are setting up Land Trusts for their properties in the Sunshine State. But what is a Land Trust, and can you benefit from creating it as part of your estate plan in Florida? If you are considering setting up a Land Trust in Florida, consult with a St. Petersburg trust planning attorney… Read More »