Drafting a Trust in Fort Myers
Trusts Explained by Our Fort Myers Estate Planning Lawyer
A trust is a legal entity which is created by a donor, settlor, or grantor
and which holds property for the benefit of designated beneficiaries.
The beneficiaries of the trust are entitled to enjoyment of the trust
assets and income in accordance with the terms set forth by the creator
of the trust. The creator or grantor also appoints a representative or
"trustee" to administer or manage the trust assets.
This individual can be the creator of the trust, family member, professional
trustee, or other trusted individual. Although this might sound complex,
trusts are relatively easy entities to create and manage.
Speak with our Fort Myers estate planning attorney for help setting up a trust and providing the answers you need.
How can I benefit from setting up a trust?
It is a common misconception that trusts are only for the wealthy. The
fact is that trusts are designed and useful for a wide range of individuals.
It is rapidly becoming the preferred estate planning tool utilized by
all classes of individuals. No matter what the goals of your estate plan,
a trust can help you achieve a level of control unmatched by older planning
techniques such as the will.
Some of the benefits of a trust include:
- Reduced estate and gift taxes
- Avoid the lengthy and expensive process of probate
- Provide for dependent family members or minor children
- Immediately transfer assets to beneficiaries upon death
- Controlled distribution of assets after death
- Added benefits for real estate investors
- Greater protection from creditors
While the trust might be considered the "new kid on the block"
at the moment, the momentum of its influence in estate planning, fueled
by individual education, is rapidly making the trust the preferred estate
planning tool for the majority of individuals. Their benefits are undeniable
and their influence is exponentially climbing.
Our Trust Professionals Can Keep You On the Cutting Edge
There are many different types of trusts aimed at fulfilling different
planning needs. Whether your needs call for a simple revocable living
trust or a more complex trust aimed at minimizing taxes, the attorneys
at Powell, Jackman, Stevens & Ricciardi, P.A. can help you build a trust to
accomplish your goals.
Contact our office today for more information or to set up a free consultation with someone
from our firm. We even offer discounts to AARP members!