Creating an initial estate plan is a crucial first step in protecting yourself, your assets, and your loved ones. Estate planning, however, is not something that is every truly “finished.” Over the course of your lifetime you will probably make numerous changes to your initial estate plan. For example, you may want to modify a revocable living trust you have in place. A Port St. Lucie revocable … [Read more...] about How Do I Make Changes to My Revocable Living Trust?
Given the frequency with which trusts are included in an estate plan, there is a very good chance that your estate plan will eventually include a trust, if it doesn’t have one already. There is an equally good chance that as you move through the various phases of your life, changes in your life will prompt the need to make changes to your estate plan, including your trust. The Port St. Lucie … [Read more...] about How Do I Modify a Revocable Living Trust?
For most people, a Last Will and Testament serves as their primary estate planning document. While a Will can dispose of your entire estate when you are gone, your estate plan can – and should – accomplish more than just the distribution of your estate assets. To achieve some of your additional estate planning goals and objectives you will likely need to incorporate additional tools and strategies … [Read more...] about Vero Beach Estate Planning Attorneys Explain How a Trust Works
Like most people, you probably would rather avoid spending any time thinking about or planning for your own death. In fact, those thoughts are so discomforting that fewer than half of the adults in the United States have even bothered to create a simple will. The problem is, as it always has been, that death is inescapable. And when someone dies without a plan in place, that can create all sorts … [Read more...] about How a Living Trust Benefits People Just Like You
When you sit down to create, or review, your estate plan you will likely have more than one estate planning goal in mind. Though the most important of those goals may be to ensure that your loved ones are well provided for when you are gone, you may have secondary goals that are also important to you. Your Last Will and Testament, while crucial to your overall plan, has its limits. To accommodate … [Read more...] about 3 Common Uses for a Living Trust
Most people creating an estate plan in Florida will utilize a revocable living trust as a way to manage and control their property. As with all trusts, a revocable living trust requires you to create a new legal entity that can own property. After creating the trust, you will then go through the process of transferring all of your personal property into the trust’s name. When many people hear … [Read more...] about Asset Control and Your Living Trust in Port Saint Lucie Florida
Sometimes people ask estate planning attorneys questions about wills or living trusts that reflect common misunderstanding of what these two tools are designed to do. When you and your estate planning lawyer create an estate plan, you will decide on some specific elements to include that will allow you to address each of your needs. Depending on your particular circumstances, the tools you decide … [Read more...] about Why Your Estate Plan Will Include a Will and a Living Trust
A revocable living trust has become an integral part of the process when it comes to estate planning. If you are debating the merits of using such a trust, or you would just like to know a little bit more about them, the following questions should provide you with a basic understanding. 1. Who creates a revocable living trust? The creator of the trust, and the person whose property is … [Read more...] about Four Questions Regarding the Revocable Living Trust
If you’re going to create a revocable living trust in Florida, you’ll need to take the time to think about whom you want to serve as your trustee. While many, if not most, people who create a living trust choose themselves to serve in this important role, this isn’t the only option. There are several factors you will need to think about when considering whom your trustee should … [Read more...] about Your Living Trust and Your Trustee: What You Need to Consider
When people come to us about crafting an inheritance plan in Florida, we often counsel them on using a revocable living trust as a way to protect their inheritance choices. But how do trusts protect the inheritance choices you want to make? What does a trust do that a will does not? To help you understand how a trust allows you to make and protect your inheritance choices, let's take a look at … [Read more...] about Protecting Florida Inheritances With a Revocable Living Trust