Trust Creation Services in Florida
Arranging a trust serves as a proactive measure to guide your wealth’s future, preserve your hard-earned assets, and maintain harmony among beneficiaries. At Kelley Grant & Tanis, our attorneys are proud members of the Florida Bar, devoted to helping clients across the state establish trusts that align with their distinct financial targets and family values. Our experienced legal team supports you through every step of the trust formation process, ensuring your assets are organized and distributed per your vision.
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What is a Trust?
A trust is a legal framework that transfers asset management responsibilities to a trustee on behalf of designated beneficiaries. By utilizing a trust, you can specify when and how your beneficiaries receive their inheritance, potentially reduce tax obligations, and avoid the public and time-consuming probate process. Trusts are integral to comprehensive estate planning, providing both financial security and flexibility.
Types of Trusts We Offer
Our firm provides a variety of trusts suited to different estate planning objectives:
- Revocable Living Trusts: Allows modifications or revocation during your lifetime, offering ongoing oversight.
- Irrevocable Trusts: Removes assets from your taxable estate, boosting asset protection and potentially reducing estate taxes.
- Special Needs Trusts: Ensures that loved ones with disabilities receive support without affecting their eligibility for government assistance.
- Charitable Trusts: Facilitates contributions to charitable endeavors, often yielding tax advantages and a meaningful legacy.
Revocable Living Trusts
A revocable living trust is ideal for individuals seeking sustained control over their assets while simplifying inheritance. You may alter or dissolve the trust as life circumstances change. Upon your passing, trust assets directly transfer to beneficiaries, bypassing probate and maintaining privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts deliver enhanced asset security and potential tax savings by shifting ownership of assets out of your estate. Our attorneys ensure that these trusts comply with Florida law and align with your long-term financial and protection strategies.
Special Needs Trusts for Loved Ones
Special needs trusts preserve critical support for beneficiaries with disabilities. They provide funds for essential services without compromising access to public benefits. Our team assists in tailoring these trusts to meet the unique requirements of your loved ones.
Charitable Trusts for Legacy Planning
A charitable trust enables you to blend personal philanthropic goals with family interests. Whether you choose a remainder or lead trust, this approach helps you support causes you care about while still offering financial stability to your beneficiaries.
Why Work with a Trust Attorney?
Forming a trust involves intricate legal considerations. Our attorneys provide essential guidance by:
- Customizing Trust Parameters: Crafting trusts that reflect your specific objectives and family dynamics.
- Ensuring Statutory Compliance: Verifying that all documentation meets the standards of Chapter 736 of the Florida Statutes to prevent future issues.
- Optimizing Tax Outcomes: Advising on strategies to minimize estate and gift taxes, safeguarding more assets for your heirs.
Frequently Asked Questions
How much does it cost to create a trust?
The expense depends on the trust’s complexity, type, and attorney fees. Consulting a North Miami estate planning attorney provides a clear estimate tailored to your holdings and goals.
What assets can I put into a trust?
You can transfer a wide range of assets, including real property, bank accounts, investments, and personal valuables. Proper funding ensures seamless administration under the trust’s guidelines.
Can I name a professional trustee instead of a friend or relative?
Yes, you may appoint a professional trustee, such as an attorney, financial advisor, or corporate entity, particularly if your estate is complex or requires specialized management.
What if I own property in multiple states?
A trust can hold assets across various states. Collaborate with an attorney experienced in multi-state estate planning to ensure compliance with differing state laws.
Do I need a lawyer to create a trust?
While DIY options exist, consulting with an estate planning attorney ensures accurate drafting, legal compliance, and a trust arrangement that truly reflects your wishes.
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About North Miami
North Miami, Florida, incorporated in 1953, has evolved from a modest township into a growing city of over 59,000 people, close to major metropolitan hubs in the area. Historically shaped by waves of development, North Miami has grown to include a mix of residential neighborhoods, commercial sectors, and recreational spaces. Landmarks like the Museum of Contemporary Art, North Miami (MOCA), and the Enchanted Forest Elaine Gordon Park are both great examples of recreation and public engagement.
