Trust Creation Services in Florida
Trusts are effective tools for managing and safeguarding assets, providing financial stability and assurance. At Kelley Grant & Tanis, a member of the Florida Bar, we support clients throughout Florida in establishing trusts tailored to their unique financial objectives and family circumstances. Our knowledgeable attorneys guide you through each phase of the trust creation process, ensuring your assets are allocated according to your intentions.
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What is a Trust?
A trust is a legal structure where one individual, the trustee, oversees assets on behalf of specified beneficiaries. Trusts enable individuals to safeguard and regulate the distribution of their assets, making them an essential component of thorough estate planning. They provide various advantages, including tax optimization and protection of assets from the probate process.
Types of Trusts We Offer
Our firm offers trust options, each designed to meet different estate planning requirements. Principal types of trusts include:
- Revocable Living Trusts: Offers adaptability, allowing you to manage and revise the trust during your lifetime.
- Irrevocable Trusts: Ensures strong asset protection by transferring ownership out of your estate, shielding assets from creditors.
- Special Needs Trusts: Crafted to assist loved ones with disabilities without affecting their eligibility for governmental benefits.
Revocable Living Trusts
A revocable living trust is a favored choice for individuals who desire to retain control over their assets while avoiding the probate process. This trust type permits you to alter its provisions or completely dissolve it during your lifetime. After your passing, the assets within the trust are directly distributed to beneficiaries, circumventing probate and maintaining privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts are frequently utilized in estate planning to defend assets from creditors and decrease estate taxes. Individuals exclude assets from their taxable estate by placing them into an irrevocable trust, establishing a dependable layer of protection. Our attorneys assist clients in forming irrevocable trusts that meet their asset protection objectives while adhering to Florida law.
Special Needs Trusts for Loved Ones
Planning for a family member with special needs requires meticulous consideration. Special needs trusts offer for beneficiaries with disabilities without jeopardizing their eligibility for government assistance programs. Our attorneys help clients establish these trusts to guarantee that loved ones receive the necessary care, with funds allocated for their specific requirements.
Charitable Trusts for Legacy Planning
A charitable trust allows clients to make a lasting difference in causes they support while potentially gaining tax advantages. 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?
Establishing a trust involves critical legal choices that influence the future of your assets and beneficiaries. Our attorneys provide essential support by:
- Customizing Trust Terms: Drafting personalized trusts that align with your specific goals and financial requirements.
- Navigating Legal Requirements: Ensuring all trust documents adhere to Chapter 736 of the Florida Statutes to avoid future issues.
- Advising on Tax Implications: Assisting in reducing estate and gift taxes to retain more of your wealth for beneficiaries.
Frequently Asked Questions
How does a trust help in avoiding probate in Jacksonville?
A trust allows assets to pass directly to beneficiaries without going through the probate process, which can be time-consuming and public. This ensures a faster and more private transfer of your estate.
Can I establish a trust if I own property in multiple states?
Yes, our attorneys can help you create a trust that accommodates multi-state property ownership, ensuring all assets are properly managed and distributed according to your wishes.
What are the tax benefits of setting up a trust in Florida?
Trusts can offer various tax advantages, including potential reductions in estate and gift taxes. Our team will analyze your situation to maximize these benefits while ensuring compliance with state regulations.
Is professional management required for a trust?
While not mandatory, having a professional trustee can ensure that the trust is managed efficiently and per legal requirements, providing peace of mind for you and your beneficiaries.
What happens to a trust if I move out of Florida?
If you relocate, your trust can remain valid, but it may be subject to the laws of your new state. Our attorneys can assist in reviewing and updating your trust to ensure it complies with any new state regulations.
Looking to Secure Your Future with a Trust?
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About Jacksonville
Jacksonville, Florida, is the largest city by area in the contiguous United States, with a population exceeding 985,000 residents. The city is known for its extensive park system and beautiful beaches, such as Jacksonville Beach and Neptune Park. Jacksonville plays a significant role in the region’s economy, with key industries including finance, logistics, and healthcare. The city hosts numerous events and festivals, giving it’s residents ample things to explore and experience.
