Here for YOU Today and There for your FAMILY Tomorrow

A Flexible Way to Keep Your Estate Private: A Living Trust

11/02/2016

Attorney Daniel F

An experienced trusts and estate attorney, like myself, can create a living trust, which is a legal document that provides flexibility while preserving your control over your estate while you are living. When paired with a pour-over will that puts your assets into the trust, this can also keep your estate and asset distribution private. Any individual who has substantial assets should discuss a living or inter vivos trust with their estate planning attorney. There are many benefits.

As The (Decatur, IL) Herald & Review’s recent article titled “The Living Trust: Your plan for your assets with the flexibility to change” notes, a will goes into effect only after a person’s death but a living trust can protect your interests if you become mentally or physically incapacitated. This trust directs how to manage your finances and provide for your needs. It also gives you considerable control, because when you act as trustee of your own revocable living trust, you’re free to buy and sell assets, amend the trust, and even cancel it at any time.

A common issue for those who establish a living trust is that they fail to fund it. This means you must move or re-title your assets like your home, property, or investment accounts into ownership by the trust.

Speak with your estate planning attorney about the wisdom of naming a co-trustee or the necessity of naming a successor trustee. You might want to consider a corporate or institutional trustee, like the trust department at your bank. A corporate fiduciary may bring experience and objectivity that a friend or a family member may not have. As you may know, I used to work for two corporate trustees, and think very highly of the services they provide and their expertise.

Each situation is different, and an estate planning attorney will be able to explain what kind of trust is best for your family.

Do you live in Miami-Dade, Broward, or Palm Beach counties in Florida? Laws are constantly changing-- has your estate plan been reviewed in the last 2-3 years? Call me (954-888-1747) right away for peace of mind. I can help!

  • My practice is exclusively estate planning and probate,
  • I have prepared numerous estate plans in 16 years of practice,
  • I have administered estates and trusts through Probate all over Florida,
  • I am a Certified Financial Planner Professional™, and
  • I am here for YOU today and there for your FAMILY tomorrow.

Reference: The (Decatur, IL) Herald & Review (October 17, 2016) “The Living Trust: Your plan for your assets with the flexibility to change”

Testimonials
★★★★★
Why would we recommend D.T.F.? Several Reasons: Your ability to explain complex estate problems, clearly and patiently; your total lack of arrogance and pretense; a strong feeling that you are motivated by what you perceive is best for your client, rather than what would generate the largest legal fees; finally, and importantly, you are a lovely guy. A.C.
★★★★★

Two words cannot sum up the entire process of creating my “trust.” I enjoyed your attention to detail, your patience of explaining terms and conditions until I understood, also giving me copies to read and understand. Thank you for your suggestions on what was best for “me” but still allowing me to make my choice. Most of all, thank you for thinking of “me.” Wells Fargo said “you were the best” I cannot deny that. Again thank you very much for everything. Anna is an asset or a compliment to the firm. She is warm and very caring. It was great doing business. Thank you.

P.M.