This is the first post in a series of articles which will discuss the utilization of a living trust as part of a Melbourne, Florida estate plan. I feel it is necessary to write on this topic as many individuals, who could benefit from the use of a trust, believe that “estate planning” begins and ends with the writing of a will. The fact of the matter, however, is that utilizing a trust can make matters easier on surviving heirs and can also provide greater flexibility. I am writing my upcoming articles, therefore, with the goal of providing information which will help people to better understand their situation. It is also my goal to provide information which will assist with the selection of an attorney. If you are in need of assistance then contact my office today to speak with an estate planning lawyer.
I will be addressing several topics over my coming articles. Issues which I will be analyzing include the following:
- Using a living trust for estate plan flexibility
- Managing investment real estate through a living trust
- How a trust helps protect heirs from themselves
- Using a trust for the long-term care of loved ones
There are several reasons why I have chosen to discuss these particular issues. First, a trust allows for assets to be distributed at various times or held indefinitely after an individual passes away. This is far different from having only a last will and testament, which can result in all assets having to be distributed immediately. Second, a trust can be used to allow for a real estate portfolio to stay within a large family or group. Third, utilizing a trust can allow one to ensure that an heir or beneficiary does not receive the entire inheritance at once. It can also be used to ensure that one meets certain requirements before inheriting. Finally, a trust can be utilized to allow one to enjoy the use of their assets, which ensures that all affairs are in order when a final day arrives.
A key point that I will be stressing in each of these articles is that one should retain an experienced attorney to assist with the creation of a trust. It is important that counsel be able to foresee numerous possibilities and that your instrument be able to deal with a variety of situations. This helps to prevent infighting and litigation in the future. As a Melbourne estate planning lawyer, I am able to assist with trust creation. If you are planning for the future then contact my office online or by telephone today to schedule an initial consultation. I look forward to speaking with you.
My firm also services Florida clients in the Brevard County cities of Titusville, Cocoa, Palm Bay, Grant, Valkaria, and Rockledge, as well as in the Indian River County areas of Fellsmere, Sebastian, Vero Beach, Indian River Shores, and Orchid. We are also able to virtually work with clients throughout the state.