Trusts can be an extremely powerful and useful tool for estate planning, potentially saving your surviving family members from the lengthy and often expensive process of probate. However, you may be reluctant to create a trust because of a perceived stigma. At the Law...
Trusts
When to use an irrevocable trust
Some people in Florida who are creating an estate plan may want to consider an irrevocable trust. While a revocable trust is a more common choice because it allows the creator to remain in control of the assets, there are some advantages to an irrevocable trust.The...
The importance of an estate plan for blended families
It is not uncommon today for a person in Florida to be married two or more times in their life. Whether due to divorce or death, many people go on to find happiness again with a new spouse. While that experience can bring great joy into a person's life, it can also...
Estate plans affected by IRA trust changes
Florida residents who have IRAs should be aware of how a provision of the SECURE Act, which was passed on May 23, 2019, will impact their IRAs. It is also important to understand how the new legislation will impact any estate plans that include IRA trusts.The...
Titling assets as part of estate planning
For many estate owners in Florida, the most important part of a will is naming who they want to inherit their assets. However, there are several types of assets that are not transferred using a will.For example, a person purchases a life insurance policy explicitly...
Choosing the best trustee to manage a trust
Florida residents should proceed with caution when it comes to naming an estate trustee. Many people naturally assume that a close relative would make a good trustee because of their familiarity with the estate owner. However, this might not always be a good idea,...
How are revocable and irrevocable trusts different?
If you have begun your Florida estate plan, you likely already know that you have a variety of trusts from which to choose. You also likely know that trusts come in two basic kinds: revocable and irrevocable. But do you know the differences between the two types?US...
A trust can offer more advantages than a will
Most people do not like discussing the possibility of passing on. Therefore, many Florida adults avoid estate planning in the manner that many avoid getting a medical checkup. But for those with assets to leave after they die, estate planning is very important to...
There are many trust options available
Florida residents who are creating an estate plan may have heard about the benefits of trusts. As there are many different types of trusts, it is important to understand what they do and who could benefit most from them. For instance, if an individual has a child with...
How trusts can be used to preserve family wealth
After people in Florida create an estate plan, it may need to be updated regularly. Lee Radziwill, the sister of Jacqueline Kennedy Onassis, died in early 2019 and had a will that was dated Sept. 20, 2018. There was a revocable trust from 2017. The proximity of these...
