Trust Creation Services in Florida
Choosing to establish a trust is a strategic approach to managing and safeguarding your assets, ensuring both financial security and peace of mind. At Kelley Grant & Tanis, our attorneys are committed members of the Florida Bar, dedicated to assisting clients throughout the state in creating trusts tailored to their unique financial goals and family circumstances. Our experienced legal team guides you through each phase of the trust creation process, ensuring your assets are managed 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 oversee the distribution of their assets, making trusts a fundamental 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 diverse range of trust options, each designed to address different estate planning needs. Key types of trusts include:
- Revocable Living Trusts: Provides flexibility, allowing you to manage and modify the trust during your lifetime.
- Irrevocable Trusts: Offers substantial asset protection by transferring ownership out of your estate, safeguarding assets from creditors.
- Special Needs Trusts: Established to support loved ones with disabilities without affecting their eligibility for government benefits.
- Charitable Trusts: Enables clients to support charitable causes while potentially receiving tax benefits.
Revocable Living Trusts
A revocable living trust is ideal for individuals who wish to retain 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 frequently 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 dependable layer of protection. Our attorneys assist clients in forming irrevocable trusts that align with 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 allows clients to support causes they are passionate about while potentially receiving tax benefits. We assist clients in creating charitable remainder and lead trusts, enabling 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 critical 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: Assisting in reducing estate and gift taxes to preserve more of your wealth for beneficiaries.
Frequently Asked Questions
How does establishing a trust benefit residents of Deerfield Beach?
Establishing a trust in Deerfield Beach allows for seamless management and distribution of your assets, helping you avoid the probate process and maintain privacy. Additionally, trusts can provide tax benefits and ensure your beneficiaries receive their inheritance in a structured manner.
Can a trust protect my assets from legal disputes in Florida?
Yes, certain types of trusts, such as irrevocable trusts, can shield your assets from creditors and legal disputes. Our attorneys can help you identify the most effective trust structure to safeguard your assets based on your specific needs.
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 oversee the distribution of their assets, making trusts a fundamental component of comprehensive estate planning. Trusts offer benefits such as tax efficiency and shielding assets from the probate process.
Is it necessary to hire a lawyer to create a trust in Florida?
While it is possible to create a trust without legal assistance, hiring 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.
Can I set up a trust if I own property in multiple states?
Yes, you can set up a trust even if you own property in multiple states. However, it’s important to consider the laws of each state where the property is located, as they can affect the trust’s administration and asset distribution. Consulting with an attorney experienced in multi-state estate planning is advisable.
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About Deerfield Beach
Deerfield Beach, Florida, was officially incorporated in 1925 and has developed into a charming city of nearly 87,000 individuals. Originally developed as a seaside resort, Deerfield Beach expanded significantly with the establishment of key infrastructures such as the Deerfield Beach International Fishing Pier and the Manatee Park, which are both great examples of recreational and environmental preservation. Beyond this, the Pineapple Grove Arts District showcases Deerfield Beach’s galleries, studios, and performance venues.
