Trust Creation Services in Florida
Establishing a trust can provide a structured way to preserve your wealth, guide its future distribution, and ensure that your family’s financial interests are protected. At Kelley Grant & Tanis, our attorneys are proud members of the Florida Bar, dedicated to helping clients throughout the state form trusts that align with their distinct financial priorities and family considerations. Our experienced legal team assists you at every stage of trust creation, ensuring your assets are organized, managed, and passed on according to your wishes.
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What is a Trust?
A trust is a legal arrangement in which a trustee manages assets for designated beneficiaries. Integrating a trust into your estate plan can simplify asset transfers, help you avoid probate, potentially reduce tax exposure, and maintain control over how and when your heirs receive their inheritance. Trusts serve as fundamental tools in comprehensive estate planning, offering both practical safeguards and financial clarity for generations.
Types of Trusts We Offer
Our firm provides a range of trust options, each addressing different estate planning goals:
- Revocable Living Trusts: Allows adjustments or revocation during your lifetime, ensuring continuous oversight.
- Irrevocable Trusts: Places assets outside your taxable estate for enhanced asset protection and possible tax benefits.
- Special Needs Trusts: Safeguards the well-being of loved ones with disabilities without affecting their eligibility for government assistance.
- Charitable Trusts: Supports philanthropic endeavors while potentially offering tax advantages and leaving a meaningful legacy.
Revocable Living Trusts
A revocable living trust is ideal for those wanting to retain control over their assets while streamlining the inheritance process. You can modify or end the trust as needed. After your passing, trust assets move directly to beneficiaries, bypassing probate and maintaining privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts remove assets from your estate, potentially reducing estate taxes and shielding them from creditors. Our attorneys ensure these trusts comply with Florida law and fit your long-term financial strategies, fostering greater peace of mind regarding the security of your wealth.
Special Needs Trusts for Loved Ones
Special needs trusts are designed to provide ongoing support and resources for beneficiaries with disabilities. They maintain eligibility for public benefits while ensuring the beneficiary’s quality of life is preserved through carefully allocated funds and services.
Charitable Trusts for Legacy Planning
A charitable trust allows you to combine altruistic aims with your family’s interests. Whether establishing a charitable remainder or lead trust, you can direct resources to the organizations you cherish while still considering the financial needs of your heirs, creating a balanced and enduring philanthropic legacy.
Why Work with a Trust Attorney?
Forming a trust involves navigating legal complexities and strategic decisions. Our attorneys offer vital assistance by:
- Customizing Trust Provisions: Drafting trust documents that mirror your unique goals and family circumstances.
- Ensuring Legal Compliance: Confirm that all trust materials meet the standards of Chapter 736 of the Florida Statutes to avert future disputes.
- Advising on Tax Matters: Guiding minimizing estate and gift taxes, and retaining more wealth for your beneficiaries.
Frequently Asked Questions
How much does it cost to create a trust in Ocala?
The expense varies based on the trust’s complexity, type and associated attorney fees. Speaking with an Ocala-area estate planning attorney helps you obtain a personalized estimate reflecting your assets and objectives.
What assets can I put into a trust?
You can fund a trust with a range of assets, including real estate, bank accounts, investments, life insurance policies, and personal property. Properly transferring these assets ensures they’re administered according to your directions and supports efficient trust management.
Can I select a professional trustee if I prefer not to use a family member?
Yes, you can appoint a professional trustee, such as an attorney, financial advisor, or corporate trustee. A professional trustee may be beneficial for complex estates or when impartial and skilled management is desired.
Is it possible to modify a trust if my family’s needs change?
For a revocable living trust, you can adjust or revoke it at any point during your life. Irrevocable trusts are generally fixed once created, though certain limited modifications may be permissible under specific conditions.
Do I need a lawyer to create a trust?
While do-it-yourself methods exist, collaborating with an attorney ensures accurate drafting, compliance with legal standards, and a trust arrangement that genuinely reflects your wishes, minimizing potential conflicts down the road.
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About Ocala
Ocala, Florida, incorporated in 1885, has grown from its roots as a hub for citrus and cotton farming into a dynamic city with over 68,000 people. Nicknamed the “Horse Capital of the World,” Ocala’s reputation is anchored by world-class equine operations and events. Landmarks like the Silver Springs State Park and the Appleton Museum of Art are both fine examples of appreciating nature, arts, and cultural enrichment.
