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Port St. Lucie
Trust Lawyer
Experienced Trust Lawyer in Port Saint Lucie at Garcia Law, PL
There are several types of trusts under Florida law, and a Port Saint Lucie Trust lawyer can help you navigate the process of creating, modifying, and reforming trusts. Working with a trust lawyer is incredibly beneficial for a number of reasons and in several circumstances, including:
- Avoiding probate court
- Avoiding guardianship court
- Giving you control of what happens to your assets after death
- Avoiding guardianship court for minor children
- Protecting assets designated for your beneficiariesProtecting individuals with special needs
- Minimizing legal challenges and issues in court
- Minimizing taxes
- Advocate for your best interests
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What Does a Living Trust Lawyer Do?
We understand that the topic of living trusts can be confusing, as can exactly what a living trust lawyer does can be too. Essentially, a living trust lawyer helps you establish financial structures that meet your needs and create a long-term property management plan. Unlike wills that do not take effect until a person dies, trusts can go into effect once they are created. In the event you pass away or are incapacitated, a living trust can also help your beneficiaries avoid probate, ensure your financial privacy, and manage your assets.
Revocable versus Irrevocable Living Trusts
Revocable trusts are the most common type of living trusts that can determine how your assets are handled during your life and after. Because they are revocable, the terms and conditions of these trusts can be changed at any time.
On the other hand, it is only in incredibly rare circumstances when an irrevocable living trust can be amended once they are signed.
What are the Requirements for Creating a Trust?
Each state has different requirements for creating a living trust.
In Florida, these requirements are as follows (as outlined in Chapter 736 of the Florida Trust Code):
A trust is created only if:
- The settlor has the capacity to create a trust
- The settlor indicates an intent to create the trust
- The trust has a definite beneficiary
- A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
- A power of a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.
Types of Trust
As provided in s. 736.0408
As provided in s. 736.0409 The trustee has duties to perform. The same person is not the sole trustee and sole beneficiary.
Speak with a Trust Lawyer Today
The compassionate and professional team at Garcia Law is ready to help you create a trust and give you the peace of mind that there is a plan for all of your assets now and in the event of your death. Call us today so we can help you navigate the process of creating a trust and determining the specifics that will best suit your circumstances.
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1922 SE Port Saint Lucie Blvd., Port Saint Lucie, FL 34952
(772) 871-6441
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