As a Florida resident who has a disabled child or adult in your life, you will likely face unique estate planning considerations that differ considerably from those faced by your peers. In addition to getting your own affairs in order, you will likely also need to...
Trusts
Protecting assets and beneficiaries with a trust
If a beneficiary has a substance abuse problem, it may be necessary to design a trust that takes this fact into account. Parents and grandparents in Florida must first choose what type of role the trust will play. For instance, it could simply be a means of providing...
What are some different types of trusts?
Floridian residents have a lot to figure out when looking into trusts. Not only are there many different types of trusts, but each one suits a different need and purpose. At the , we strive to help you find the type of trust that suits your...
Types of people who can be beneficiaries
Floridian residents have the option of setting up trusts in order to benefit an individual, several people, or even an entire organization or the general public. There may be some limitations on who can be a beneficiary, however.Black's Law Dictionary defines a trust...
Revival trusts available for those hoping to live again
Florida residents who plan on being revived at some point in the future may want what is called a revival trust. It can ensure that there is money and resources available to live on in the event that cryonics proves to be an effective way to beat death. If a person...
Protecting adult children from themselves
Parents in Florida looking to provide financial peace of mind for their children sometimes set up an irrevocable trust with the assumption that the funds will be used responsibly by the time they are accessible. Unfortunately, this is not always the case. It's not...
The role of revocable trusts in estate planning
When it comes time to begin the estate planning process in Florida, there are many options to consider. A will, power of attorney and medical directives are just some of the common instruments that may be part of a comprehensive estate plan. Another possibility is...
Why everyone should have an estate plan
Individuals in Florida and throughout the country could benefit from having an estate plan. This is true even if they have few assets and no children. According to the American Association of Retired Persons (AARP), 78 percent of millennials don't have a will or other...
The necessity of estate planning
It's a prevalent belief that estate planning is only necessary for the wealthy. However, the truth is that money and other assets, regardless of how much they are worth, can be subject to court costs and fees if the owner died without completing certain estate plan...
When is a spendthrift trust a good idea?
A spendthrift trust is a trust over which the beneficiary does not have control. Rather, a trustee, which can be an asset management company or registered investment advisor, oversees the trust's funds and assets and distributes them in a controlled manner. The...
