Trusts

Florida Trusts

Most clients that ask about a Florida Trust, are usually referring to a revocable trust. A revocable trust is a document (the “trust”) created by someone to manage their assets during their lifetime and distribute the remaining assets after their death. The “Grantor” or “Settlor” is the person who creates a trust. The “Trustee” is the person responsible for the management of the trust assets. The trust is considered “revocable” since it may be modified or terminated during one’s lifetime, as long as that person is not incapacitated.

One benefit of a revocable trust, is if you become incapacitated, the trustee is authorized to continue to manage your trust assets, pay your bills, and make investment decisions, since you are unable to do so. This is helpful, as this may avoid the need for a guardian to be appointed to manage your property. Another popular benefit to using a Florida revocable trust, is the avoidance of the probate process.

Upon the grantor’s/settlor’s death, the trustee is responsible for paying all claims and taxes, and then distributing the assets to your beneficiaries names in the trust agreement.

Trusts can be complicated documents and there are many issues with their preparation and use, so if you are considering a trust as a part of your estate plan, it is advisable to contact an experienced Broward County Trust attorney. If you would like to find out more information about a Florida Trust, contact Larry Tolchinsky today for a free consultation.

Contact an Experienced Broward County Trusts Lawyer

Contact Larry Tolchinsky to find out how he can help you. You can contact him by phone at 954-458-8655 or by e-mail through this web site to schedule an appointment and learn more about Florida Trusts. He offers a free initial consultation.

To learn more about Larry Tolchinsky, click on this link:  Hallandale Florida Trusts Lawyer