Trust Creation Services in Florida
Establishing a trust is a fundamental step in managing and protecting your assets, ensuring both financial security and peace of mind. At Kelley Grant & Tanis, our attorneys are all current members of the Florida Bar, assisting clients throughout the state in creating trusts tailored to their specific financial goals and family circumstances. Our dedicated legal team walks you through each stage of the trust creation process, ensuring your assets are handled and distributed according to your wishes.
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What is a Trust?
A trust is a legal arrangement where a trustee manages assets on behalf of designated beneficiaries. This structure allows individuals to protect and direct the distribution of their assets, making trusts a key component of comprehensive estate planning. Trusts offer benefits such as tax efficiency and shielding assets from the probate process.
Types of Trusts We Offer
Our firm provides a variety of trust options, each designed to address different estate planning needs. Key types of trusts include:
- Revocable Living Trusts: Offers flexibility, allowing you to manage and modify the trust during your lifetime.
- Irrevocable Trusts: Provides substantial asset protection by transferring ownership out of your estate, safeguarding assets from creditors.
- Special Needs Trusts: Created to support loved ones with disabilities without affecting their eligibility for government benefits.
Revocable Living Trusts
A revocable living trust is ideal for individuals who wish to maintain control over their assets while avoiding the probate process. This type of trust allows you to amend its terms or dissolve it entirely during your lifetime. Upon your passing, the assets within the trust are distributed directly to beneficiaries, bypassing probate and ensuring privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts are commonly utilized in estate planning to protect assets from creditors and reduce estate taxes. By transferring assets into an irrevocable trust, individuals remove them from their taxable estate, establishing a reliable layer of protection. Our attorneys assist clients in forming irrevocable trusts that meet their asset protection goals while complying with Florida law.
Special Needs Trusts for Loved Ones
Planning for a family member with special needs requires careful consideration. Special needs trusts provide for beneficiaries with disabilities without jeopardizing their eligibility for government assistance programs. Our attorneys help clients establish these trusts to ensure that loved ones receive the necessary care, with funds allocated for their specific needs.
Charitable Trusts for Legacy Planning
A charitable trust enables clients to support causes they care about while potentially receiving tax benefits. We assist clients in creating charitable remainder and lead trusts, allowing them to contribute to charitable organizations while still providing for family members, thereby establishing a meaningful legacy.
Why Work with a Trust Attorney?
Creating a trust involves important legal decisions that impact the future of your assets and beneficiaries. Our attorneys provide valuable support by:
- Customizing Trust Terms: Drafting tailored trusts that align with your specific goals and financial requirements.
- Navigating Legal Requirements: Ensuring all trust documents comply with Chapter 736 of the Florida Statutes to prevent future issues.
- Advising on Tax Implications: Helping reduce estate and gift taxes to preserve more of your wealth for beneficiaries.
Frequently Asked Questions
How can a trust facilitate the transfer of assets in Clearwater?
A trust allows assets to be passed directly to beneficiaries without the need for probate, which can be lengthy and public. This ensures a more efficient and private transfer of your estate.
Can a trust protect creditors in Florida?
Yes, certain types of trusts, such as irrevocable trusts, can shield your assets from creditors and legal claims. Our attorneys can help you determine the best trust structure to protect your assets based on your specific circumstances.
What distinguishes a trust from a will in Florida?
While both trusts and wills are used for estate planning, trusts offer greater flexibility and privacy. Trusts can manage assets during your lifetime and bypass the probate process, whereas wills only take effect after your passing and must go through probate.
Is legal assistance necessary to create a trust in Florida?
While it is possible to create a trust without legal assistance, having a lawyer ensures that the trust is properly structured, complies with Florida laws, and accurately reflects your wishes. Our attorneys provide expert guidance to help you create a valid and effective trust.
What is the process of setting up a trust with Kelley Grant & Tanis?
Our process involves assessing your financial situation, defining your goals, selecting the appropriate type of trust, drafting the necessary legal documents, and ensuring compliance with Florida laws. We work closely with you to create a trust that meets your specific needs.
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About Clearwater
Clearwater, Florida, was established in the late 19th century and has evolved into a significant coastal city known for its beaches and maritime heritage. Originally a small fishing village, Clearwater developed rapidly with the growth of the tourism industry, particularly after the construction of the Clearwater Beach Pier in the early 20th century. Historical landmarks such as the Clearwater Marine Aquarium reflect the city’s maritime roots and its transformation into a popular destination. Over the years, Clearwater has expanded its infrastructure and community services, maintaining its status as a key location on Florida’s Gulf Coast.
