Trust Creation Services in Florida
Trusts are invaluable mechanisms for organizing and safeguarding your assets, ensuring both financial stability and peace of mind. At Kelley Grant & Tanis, all of our attorneys are proud members of the Florida Bar, we assist clients throughout Florida in establishing trusts tailored to their unique financial objectives and family circumstances. Our seasoned attorneys guide you through each phase 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 oversees 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 range 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 Asseved 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 essential 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: Assisting in reducing estate and gift taxes to preserve more of your wealth for beneficiaries.
Frequently Asked Questions
How does a trust help in avoiding probate in Port St. Lucie?
A trust allows assets to pass directly to beneficiaries without undergoing the probate process, which can be lengthy and public. This ensures a more efficient and 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 property ownership across different states, 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 provide 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 following 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 still 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 Port St. Lucie
Port St. Lucie, Florida, is a growing city with a population of over 245,000 residents. The city is recognized for its extensive parks and natural reserves, including Savannas Preserve State Park and Jensen Beach. Port St. Lucie’s economy is supported by sectors such as healthcare, education, and tourism. The city offers a variety of recreational facilities and community centers, providing residents with ample opportunities for outdoor activities and social engagement. Additionally, Port St. Lucie hosts several local events and markets that highlight its unique community spirit.
