At the Law Offices of Frye, Fortich & Garcia, P.L., our Miami lawyers help clients avoid the expensive, complicated and public Florida probate process required to gain access to a loved one’s estate once he or she passes away. With a funded living trust, families can avoid a court-managed process, and we can simply guide the successor trustee in administering the distribution of the estate. We draft living trusts and make sure assets are properly titled.
Benefits of a properly funded living trust include:
- The ability to avoid probate and minimize the expenses, and delays associated with the settlement of an estate
- Efficient transfer of assets after death with no court interference
- The ability to maintain family privacy
A Living Trust Simplifies Distribution Of Assets
When there is just a will and no living trust, an estate becomes tied up in the probate court process leaving the surviving family with no access to the assets. A surviving spouse or child may be forced to apply to the probate court for needed cash to pay current expenses. Our experienced attorneys help Florida and out-of-state clients properly plan so that assets can pass on to loved ones without undergoing probate, in a manner that is quick, inexpensive and private.
A living trust allows you to retain control and to designate your desired successor trustee.
A living trust can be used to hold legal title to your assets while allowing you to remain in complete control of them. You have the freedom to choose who will serve as trustee during your lifetime.
A successor trustee designated by you will implement your desires upon your death or incapacity. Your living trust is revocable, which allows you to make changes and even to terminate it.
Strategies You Should Not Rely On
It is common for people to believe that methods such as joint ownership of assets, pay-on-death accounts and beneficiary designations will ensure probate avoidance and accomplish their goals. We do not recommend relying upon any of these strategies, as there are potential pitfalls and problems associated with each one, including tax inefficiencies, inflexibility of distribution to beneficiaries, exposure to creditors, joint ownership headaches, lack of trust protection for beneficiaries and homestead exemption issues.
Meet With Us To Learn More About Avoiding Probate
From our offices in Miami, we provide estate planning, probate and asset protection services for individuals and families in Miami-Dade County, Broward County and communities throughout South Florida. Call us at 305-931-3200 or contact us by email to arrange an initial consultation with an experienced Miami probate planning law attorney.
