Broward County Trust Lawyer

If you are looking for a way to protect your assets, provide for your loved ones, and avoid probate, you may want to consider creating a trust. A trust is a legal arrangement in which you transfer property to a trustee, who holds and manages it for the benefit of one or more beneficiaries. If you would like to learn more about how trusts work or you’d like to create a trust yourself, please don’t hesitate to contact a seasoned Broward County trust lawyer from The Probate Lawyers today.

Trust Lawyer | Here to Preserve Your Legacy

If you are interested in creating a trust as part of your estate plan, we can help you. We are experienced and reputable estate planning lawyers in Broward County who can guide you through every step of creating and administering a trust. We will listen to your goals and needs, explain your options and their implications, draft a customized trust document that reflects your wishes and complies with Florida law, and address any questions or concerns that may arise along the way.

Types of Trusts

There are many types of trusts that serve different purposes and have different advantages and disadvantages, depending on your individual circumstances. The two most common types of trusts are revocable and irrevocable trusts. A revocable trust gives the grantor (the person creating the trust) the right to modify or terminate the trust at any point during their lifetime and avoid probate. On the other hand, an irrevocable trust surrender’s the grantor’s right to control assets held in the trust, but it also eliminates or reduces taxes and protects assets held in the trust from creditors.

Other common types of trusts include living trusts, testamentary trusts, special needs trusts, charitable giving trusts, and more. If you would like to learn more about what trust is best for you, contact a trust lawyer from our firm so we can assess your circumstances, listen to your goals, and guide you through the process.

Benefits of Creating a Trust

There is a wide range of potential benefits of creating a trust, some of which are as follows:

  • A trust can help you avoid probate, which will, in turn, save your loved ones time and money.
  • A trust can minimize the amount of estate taxes your loved ones will have to pay upon your passing.
  • A trust can help shield your assets from unwanted parties. Life is unpredictable, but having a trust in place is a great way to shield your assets from various events life may throw your way, such as lawsuits, divorce, or debt-seeking creditors.
  • A trust can help you provide for a loved one with special needs.

Pitfalls of Creating a Trust Without a Lawyer

Creating a trust can be a complex and technical process that requires careful planning and drafting. If you try to create a trust without a competent Broward County estate lawyer, you will most likely run into one, or many, pitfalls that could potentially undermine your goals and intentions. Just some of the most common pitfalls associated with drafting trusts without an attorney are as follows:

  • Making mistakes: If you make mistakes in creating or funding your trust, such as using inaccurate or ambiguous language, omitting important provisions, failing to transfer title to assets, or violating tax laws, you could invalidate your trust or expose it to challenges by creditors, beneficiaries, or the IRS.
  • Missing opportunities: If you create a trust without a competent trust lawyer, you may overlook opportunities to take advantage of tax benefits, asset protection strategies, or other options that could augment your estate plan. You may also miss opportunities to update your trust in response to changes in laws or circumstances.
  • Losing control: If you create a trust without a lawyer, you may lose control over your assets or your beneficiaries’ interests. You may not be able to amend or revoke your trust if you need to. You may also not be able to monitor or influence how the trustee manages or distributes the assets.

Contact a Trust Lawyer Today

A trust can be a powerful tool for estate planning that can help you avoid probate, reduce taxes, protect assets, and provide for your loved ones, but creating a trust can also be a complex and technical process that requires careful planning and drafting. That’s why you need The Probate Lawyers Contact us today so you can schedule your initial consultation with our firm and so we can help you achieve the peace of mind you deserve.

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