A trust is a powerful device, that somewhat like a will, dictates who will get what part of your estate. There are many things that a properly executed trust can do that a will cannot do alone. One of the most important things is the avoidance of probate. Probate is the legal operation where the court oversees the division of your estate. Since this goes through the court and will need an attorney, probate can become very costly. The current limit is Florida is basically $75,000 of liquid assets without beneficiaries names or more than one real property.
With a trust, you can place these items in the trust and avoid probate, hopefully saving your family a large amount of money. Among the many other things a trust can do, is to allow you to be more creative with your devises. Instead of simply willing over to a family member a large chunk of money, a trust allows you to gradually give your family your assets, hopefully preventing family members from squandering away money too quickly.
Here at the John Roberts Law Firm, I will explain, in depth, all of the options you have in making a trust. It is far too complicated to place into words here, so I invite you to contact my office for a FREE initial consultation so that I can begin to assist you in your estate planning needs.
Contact the John Roberts Law Firm today to schedule a FREE initial consultation.