Through the establishment of a living trust, you can help your beneficiaries to avoid probate costs and help ensure your assets are administered and distributed more efficiently.
If you are wondering if a living trust is right for you, an experienced estate planning lawyer can discuss your options with you.
Although living trusts avoid the costs associated with probate, they still require guidance from a trust administration lawyer.
Typically, trust administration is less time-consuming and costly than probate administration. However, setting up a living trust requires more documentation and effort than a simple will. Depending on your situation, living trusts remain a viable option, particularly if you own real estate in Florida or other states.
Revocable And Irrevocable Living Trusts: A Variety Of Benefits
Some common types of living trusts include:
- Asset protection trusts to shelter your assets from dividend and earnings taxes
- Charitable trusts to support your favorite charity, educational or religious institution
- Dynasty trusts to ensure your assets remain in the family across generations
- Generation-skipping trusts to offer financial assistance to your grandchildren
- Qualified personal residence trusts that allow you to remain in your home until your death
- Special needs trust to ensure your loved one continues to receive your financial support
Find Out Which Type Of Trust Is Right For You
I am attorney Michael G. Horton and I have helped individuals in Clermont and surrounding Florida communities find the right trust for their situation.
I am happy to meet with you to fully explain your options for living trusts and which ones may be the most beneficial to you. Let me help answer your questions and alleviate your concerns so you can make the best decision for you and your family…