Trust Creation Services in Florida
Trusts are crucial instruments for organizing and protecting your assets, ensuring both financial stability and peace of mind. At Kelley Grant & Tanis, our attorneys are proud members of the Florida Bar, assisting clients throughout the state in establishing trusts tailored to their specific financial objectives and family circumstances. Our dedicated legal team guides you through each stage 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 direct the distribution of their assets, making trusts a fundamental component of comprehensive estate planning. Trusts offer advantages 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 adaptability, 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?
Establishing a trust involves important legal decisions that affect 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
What are the primary benefits of establishing a trust in Miramar?
Establishing a trust in Miramar allows for efficient management and distribution of your assets, helps avoid the probate process, and maintains privacy. Additionally, trusts can provide tax advantages and ensure that your beneficiaries receive their inheritance in a structured manner.
Can a trust protect my assets from lawsuits 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.
How does a trust differ 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 it necessary to have a lawyer 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 steps are involved in setting up a trust?
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.
Looking to Secure Your Future with a Trust?
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About Miramar
Miramar, Florida, is a thriving city with a population of over 138,000 residents. Miramar has well-maintained parks, including Miramar Regional Park and Miramar Golf Club. This city’s economy is supported by sectors such as healthcare, finance, and retail. The city provides numerous recreational facilities and community centers, offering residents ample opportunities for outdoor activities and socialization. Additionally, Miramar hosts several local events and cultural activities that cater to its diverse population.
