Trust Creation Services in Florida
Forming a trust establishes a structured approach to protecting and distributing your wealth, helping ensure that your financial intentions are honored for years to come. At Kelley Grant & Tanis, our attorneys are proud members of the Florida Bar, committed to guiding clients throughout the state in creating trusts that reflect their unique financial priorities and family values. Our experienced legal team works closely with you through every phase of the trust creation process, ensuring your assets are managed and transferred as you envision.
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What is a Trust?
A trust is a legal arrangement that appoints a trustee to oversee assets for designated beneficiaries. By using a trust, you can establish conditions for inheritance, potentially avoid probate delays, minimize tax liabilities, and ensure that your beneficiaries receive their portion of your estate according to your schedule and stipulations. Trusts often serve as a core component of comprehensive estate planning, providing a measure of assurance and stability for future generations.
Types of Trusts We Offer
Our firm offers a variety of trusts to meet diverse planning goals:
- Revocable Living Trusts: Grants you the ability to modify or revoke the trust during your lifetime, allowing ongoing oversight.
- Irrevocable Trusts: Transfers ownership out of your estate to enhance asset protection and potentially reduce estate taxes.
- Special Needs Trusts: Provides sustained support for a loved one with disabilities without compromising their eligibility for government benefits.
- Charitable Trusts: Empower you to support causes that matter to you, often resulting in tax benefits and a meaningful legacy.
Revocable Living Trusts
A revocable living trust suits individuals who want to maintain control over their assets while easing the inheritance process. You can revise or terminate the trust as circumstances change. Upon your passing, trust assets transfer directly to beneficiaries, bypassing probate and maintaining privacy.
Irrevocable Trusts for Asset Protection
Irrevocable trusts offer strengthened asset protection and may lower your taxable estate. By placing assets into an irrevocable trust, you remove them from personal ownership, shielding them from creditors. Our attorneys ensure these trusts comply with Florida law and align with your overarching asset preservation goals.
Special Needs Trusts for Loved Ones
A special needs trust secures essential care and financial resources for beneficiaries with disabilities without affecting their access to public benefits. Our team collaborates with you to design these trusts, focusing on your loved one’s long-term comfort and security.
Charitable Trusts for Legacy Planning
A charitable trust allows you to merge philanthropic aspirations with your estate plan. Whether establishing a charitable remainder or lead trust, you can support organizations dear to you while still providing for your family, creating a balanced approach that resonates beyond your lifetime.
Why Work with a Trust Attorney?
Creating a trust involves legal intricacies and strategic considerations. Our attorneys offer valuable assistance by:
- Tailoring Trust Terms: Drafting trusts that mirror your unique needs and family situation.
- Ensuring Legal Compliance: Confirm that documentation meets the criteria of Chapter 736 of the Florida Statutes to avoid future disputes.
- Advising on Tax Strategies: Helping identify opportunities to reduce estate and gift taxes, preserving more wealth for your beneficiaries.
Frequently Asked Questions
How much does creating a trust cost?
Costs vary based on trust complexity, type, and attorney fees. Consulting a Wellington-based estate planning attorney gives you a clearer estimate suited to your holdings and priorities.
What assets can I include in a trust?
You may place a wide array of assets—real estate, bank accounts, investments, life insurance policies, and personal belongings—into a trust. Proper funding ensures that these assets are administered according to your directions.
Can I appoint a professional trustee instead of a relative?
Yes, selecting a professional trustee (like an attorney, financial advisor, or corporate trustee) may be beneficial if your estate is complex or if impartial, expert management is desired.
Can trusts hold property located in other states?
Yes. If you own property in multiple states, a trust can simplify management. Consult with an attorney familiar with multi-state estate planning to ensure compliance with relevant laws.
Do I need legal assistance to create a trust?
While DIY options exist, working with an attorney ensures that the trust is accurately drafted, legally sound, and reflective of your intentions, minimizing potential conflicts or misunderstandings down the road.
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About Wellington
Wellington, Florida, incorporated in 1995, has grown from humble agricultural roots into a master-planned village renowned for its equestrian culture and over 61,000 residents. Known for the Wellington International and International Polo Club, Wellington’s sporting venues draw participants and spectators from around the world. Beyond its equestrian reputation, the area’s well-maintained parks, trails, and recreational facilities highlight a dedication to active lifestyles.
