Revocable Trusts

We use revocable trusts to allow our clients to avoid the probate process, provide a means for proper asset distribution and ensure the proper management of assets in the event of incapacity.

Revocable trusts name a trustee who will continue to properly manage one’s assets in the event of permanent loss of capacity, temporary unavailability or upon death. A revocable trust may be used to retain assets for many later generations and leave a legacy from the grantor while properly planning for all available tax benefits. The administration of a trust typically results in considerably less attorney fees then otherwise applicable probate fees.

Within the revocable trust there are many available planning options. For example, the trust can provide for protective trusts in the event one beneficiary is an inappropriate spender or too immature to handle the assets, if a beneficiary is disabled in any way, or if a beneficiary is going through a divorce. It may also plan for charitable gifts and specific gifts of property.

Furthermore, under Florida law, the trustee must provide accountings to all beneficiaries thus ensuring all loved ones are properly and adequately informed and that the assets are being disbursed and handled as the creator of the trust intended.