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Setting up a trust in Florida, while complicated, can save your family time and money, as well as the other matters a trust can cover. A Florida revocable trust allows you to retain full control of the trust during your lifetime while avoiding probate upon your death. An irrevocable trust in Florida may be useful in certain situations, such those with estate tax concerns and creditor protection issues such as nursing home care.
Most trusts we create are revocable and changeable during your lifetime. There are a few times that irrevocable trusts can be useful, such as for advanced tax planning and Medicaid planning. Further, trusts can become irrevocable upon your death. Here, a trust can be created for young children, irresponsible children and children with special needs. We will take our time and review your assets and goals and help you decide what trust is for you.
Florida estate planning is an often overlooked part of preparing for the future and the security of your family. If you have given thought to preparing your estate by creating either a trust or will but have postponed taking any action, call us today for a free initial consultation. We can help you assess your present situation, future needs, and your wishes. With proper estate planning, your future and the future of your family is not left to chance. Contact us and we'll assist you plan for the future.