Experienced Stuart, FL Trust and Estate Planning Law Firm

Establishing Trust to to protect the hiers of thier Treasure Coast clients

Planning for the future can be daunting. Regardless of the size of your estate, there are several factors to consider. The questions go beyond “who gets what” and focus more on what type of estate planning tool will best serve you. Do you need a will? A trust? If so, what sort of trust? With so many options to consider, you need the guidance of seasoned Fort Pierce trust and estate planning attorneys like those at Treasure Coast Legal to assist you during this challenging time.

Establishing a Trust

Our attorneys are knowledgeable about all aspects of Florida trusts and estate planning. We can help you determine whether a will or trust – or both – will best fit your needs. A trust is a separate legal document and not a part of a will. There are several types of trusts, including the following most commonly used trusts:

Revocable Trust
Also referred to as a “living trust,” a revocable trust is one that is created during your lifetime and which you retain control of throughout your life. Assets transferred into a revocable trust avoid probate, and the terms of the trust can be altered or even revoked if you so choose.

Irrevocable Trust
An irrevocable trust cannot be modified or revoked after its creation. Once an asset is transferred into an irrevocable trust, it cannot be accessed by anyone except the beneficiary.

Charitable Trust
A charitable trust benefits a specific charity or the public in general. In addition to helping your favorite cause, a charitable trust may also be established as a way to help lower or avoid estate or gift taxes. Florida does not impose an estate, or inheritance, tax. Your estate will have to pay federal estate taxes if its net value when you die is more than the exempt amount set by Congress at that time.

Special Needs Trust
When a beneficiary of a trust also receives government benefits, a special needs trust is required to protect that person. Without it, any benefits they receive from the trust may disqualify them from receiving their government benefits. Social Security allows this as long as the beneficiary cannot control the amount or frequency of the trust distributions and cannot revoke the trust.

Once it is determined that a trust is needed, our dedicated trust and estate planning attorneys in Fort Pierce stand ready to assist you in the creation of your trust.

Contact Our Fort Pierce, FL Wills and Estate Planning Lawyers

Why leave the future security of your loved ones up to chance and the division of your property in the hands of fate? Let the skilled Florida trust and estate planning attorneys at Treasure Coast Legal create an estate plan that fits your needs. Contact us to speak with an accomplished Fort Pierce, FL trust and estate planning lawyer. Call us today at (772) 621-2898.