Trust Creation Services in Florida
Creating a trust can empower you to preserve your wealth and control how it’s handled, ensuring a secure future for your loved ones. At Kelley Grant & Tanis, our attorneys are proud members of the Florida Bar, committed to helping individuals across the state establish trusts that align with their personal financial goals and family dynamics. Our experienced legal team guides you through every step of the trust formation process, ensuring your assets are organized and managed according to your wishes.
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What is a Trust?
A trust is a legal structure in which a trustee manages assets on behalf of designated beneficiaries. By utilizing a trust, individuals can dictate how and when assets are distributed, potentially avoid probate, and reduce tax burdens. Trusts form a central part of comprehensive estate planning, offering flexibility, privacy, and financial confidence for future generations.
Types of Trusts We Offer
Our firm provides various trust options, each catering to different estate planning objectives:
- Revocable Living Trusts: Offers adaptability, allowing you to modify or revoke the trust during your lifetime.
- Irrevocable Trusts: Enhances asset protection and may lower estate taxes by removing assets from your taxable estate.
- Special Needs Trusts: Ensures ongoing financial support for loved ones with disabilities without affecting their eligibility for government benefits.
- Charitable Trusts: This enables you to support charitable causes while potentially enjoying tax advantages and creating a philanthropic legacy.
Revocable Living Trusts
A revocable living trust suits those who want oversight of their assets while simplifying the inheritance process. You may alter or dissolve the trust as your circumstances evolve. After your passing, the trust’s assets transfer directly to beneficiaries, bypassing probate and maintaining privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts serve individuals desiring stronger asset protection and potential tax reductions. By placing assets into an irrevocable trust, you remove them from your taxable estate, safeguarding them from creditors. Our attorneys ensure these trusts comply with Florida law and align with your long-term protection goals.
Special Needs Trusts for Loved Ones
Special needs trusts provide essential care and financial stability for beneficiaries with disabilities, without jeopardizing public assistance benefits. Our team assists in creating these trusts so that loved ones receive tailored support throughout their lives.
Charitable Trusts for Legacy Planning
A charitable trust can help you transform your philanthropic vision into a lasting heritage. Whether establishing a charitable remainder or lead trust, you can allocate resources to meaningful causes while still supporting family members, ultimately forming a balanced approach to giving and family care.
Why Work with a Trust Attorney?
Constructing a trust involves significant legal and financial considerations. Our attorneys offer invaluable guidance by:
- Customizing Trust Details: Drafting trusts that reflect your unique objectives and familial circumstances.
- Ensuring Legal Compliance: Verifying all documentation adheres to Chapter 736 of the Florida Statutes to prevent future legal conflicts.
- Advising on Tax Strategies: Recommending approaches to minimize estate and gift taxes, preserving more wealth for your beneficiaries.
Frequently Asked Questions
How much does it cost to create a trust?
The expense of setting up a trust varies based on complexity, type of trust, and attorney fees. In Delray Beach, consulting with a local estate planning attorney provides an accurate estimate suited to your assets and personal objectives.
What assets can be placed in a trust?
A broad range of assets can be transferred into a trust, including real estate, bank accounts, investments, life insurance policies, and personal property. Proper funding ensures that your instructions are followed and that the trust’s administration proceeds smoothly.
How do I choose a trustee for my trust?
When selecting a trustee, consider their financial expertise, reliability, and willingness to comply with your directives. You can appoint a trusted friend or family member, a professional trustee, or a corporate trustee based on the complexity of your estate and personal preferences.
Can I set up a trust if I own property in multiple states?
Yes, trusts can hold property located in different states. However, it’s essential to consult with an attorney who understands multi-state estate planning to ensure compliance with relevant laws and regulations.
How do I fund my trust?
Funding a trust involves transferring ownership of your assets into the trust’s name. This can mean updating property titles, designating the trust as the beneficiary or owner of financial accounts, and assigning personal property via written documentation. Proper funding ensures that the trust fully serves its intended purpose.
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About Delray Beach
Delray Beach, Florida, incorporated in 1911, has evolved from a small farming settlement into a thriving coastal city with over 67,000 people. Known as the “Village by the Sea,” Delray Beach has landmarks such as Atlantic Avenue, renowned for its eclectic dining and nightlife, and the Spady Cultural Heritage Museum. Also, the city has fantastic natural spaces to explore and appreciate like the Wakodahatchee Wetlands.
