FORT LAUDERDALE TRUSTS ATTORNEY
What is a Trust?
A trust is a legal arrangement where a trustee holds and manages assets on behalf of the beneficiary(s) according to the terms set by a grantor. Trusts are commonly used for estate planning and asset protection and are a great tool in Florida.
Who are the key parties involved in a Trust?
- The Trustee: the person entrusted with managing the assets of the grantor for the benefit of the beneficiary.
- The Grantor: the person who creates the trust.
- The Beneficiary: the person who benefits from the trust.
Are there different types of Trusts?
Yes, under Florida law there are various types of trusts. Trusts can be classified as either a living or testamentary trust.
- Living Trust: also known as an inter vivos trust, is a trust created during a persons lifetime that begins operating immediately after its creation.
- Testamentary Trust: a trust created in a will that begins operating upon the death of the testator.
Additionally, living trusts can either be revocable or irrevocable.
- Revocable Trust: a type of living trust that identifies the assets a person wants to give their beneficiaries and how they are to be distributed. Adjustments to the trust can be made after its creation.
- Irrevocable Trust: a type of living trust that identifies the assets a person wants to give their beneficiaries and how they are to be distributed. However, adjustments to the trust cannot be made after its creation. We very rarely establish irrevocable trusts given their rigid nature.
Trusts can also vary in their use, impact, and purpose. For example:
- Special Needs Trust: a trust to provide for the care of person with disabilities or special needs.
- Charitable Trust: a trust where assets are held for the benefit of one or more charitable organizations.
- Pet Trust: a trust to provide for the care and maintenance of pets after the owner’s death or incapacitation.
- Land Trust: a trust that holds title to real estate.
Benefits of Working With The Law Offices of Odelia Goldberg
Why Choose Us?
- Conveniently located off I-95 and I-595 in Fort Lauderdale, Florida.
- Over 50 Years of Combined Elder Law and Estate Planning Experience
- Highly Reviewed Online
- Caring and Affordable Representation
- Experienced With Health Care Proxies / Health Care Surrogate Designations
If you are seeking an excellent Fort Lauderdale Trusts Lawyer, The Law Offices of Odelia Goldberg is the right choice. At our practice, we pride ourselves on employing only expert attorneys that go above and beyond for each and every client. What’s more, we aim to maximize the savings and financial benefits that each of our clients receives.
Please call our office at 954-832-0885 to discuss how The Law Offices of Odelia Goldberg can help you with your legal issues. Virtual and telephone appointments are available. In some cases, home or hospital appointments may be arranged.
