Trusts can help people achieve numerous estate planning goals. They can help valuable resources bypass probate, minimize conflict among their beneficiaries and even minimize taxes. There are different types of trusts for people to choose from when putting together an...
Complex Legal Challenges
Trustee
Rights of a Qualified Beneficiary under a Trust in Florida
Florida’s Trust Code, set forth in Chapter 736, Fla Stat., defines who is a “qualified beneficiary” under a Trust and sets forth the rights such a beneficiary has with regard to the administration of the Trust. Some of the more important rights of a qualified...
Estate Planning in the Face of a Divorce: Update Your Estate Documents
When a married person is facing divorce, updating their estate planning documents is a must. Why? Because of the potential ramifications in the event of an illness, incapacity, or death. Most married couples name their spouse on their estate documents. This might...
Protecting a Beneficiary who has a Substance Abuse Problem
In our estate planning practice, we regularly have parents or grandparents who are concerned about leaving an inheritance to a beneficiary who has a substance abuse problem. The concern is real in that a beneficiary who suddenly comes into a sum of money could use it...
Vacancy in Trusteeship: When no one designated can or will serve.
When setting up an estate plan in Florida, one very helpful instrument is the “Living Trust” (also called a “Revocable Trust” or a “Revocable Living Trust”). The Living Trust is a written document into which the Grantor (the person establishing the Trust) places...
What is the difference between a Testamentary Trust and a Living Trust?
In estate planning, there are two main categories of Trusts. The first is known as a “Testamentary Trust.” This is a Trust established through a person’s Last Will and Testament. In other words, there is no separate “Trust document.” The Testamentary Trust us usually...
Take Two Important Steps to Protect Your Minor Children
For most of our clients who have minor children, if asked what matters most in life, they respond “our kids.” If you have minor children, would you agree with this? There’s something special about the relationship between a parent and his or her children—especially...
Removal of a Trustee in Florida
In Florida, a Revocable or Living Trust is a commonly used estate planning tool. This type of Trust allows assets held within the Trust to pass without probate. Such a Trust also allows assets to be held in the Trust and distributed to beneficiaries over time. In...