Category: Wills and Trusts

When it comes to asset protection, there is a major difference between revocable and irrevocable trusts. A revocable trust can provide you anonymity, which offers some degree of asset protection. For instance, if your house is owned by your trust, and the name of your trust cannot be tied to you (e.g., your trust is…

Before explaining what a revocable living trust is, it is important to define some trust terms: Settlor (aka trustor or grantor) – The creator of the trust.Beneficiary – Someone named in the trust to inherit trust property.Trustee – Manages the trust and ensures that the provisions of the trust are fulfilled. The settlor is usually…

There are many different types of trust, which can make it hard to choose a trust. However, there are only two initial choices to make that will really help narrow down your choice. The two initial choices are whether you want a revocable or an irrevocable trust. A revocable trust is one that can be…

You can create a trust to avoid probate, protect your assets, and enjoy many other benefits. To enjoy the benefits of having a trust, you will first need to transfer your assets to the trust, also known as “funding the trust.” While there are many assets you can transfer to your trust, there are some…

You can create a trust to avoid probate, protect your assets, and enjoy other benefits. To enjoy those benefits, you will first need to transfer your assets to the trust, also known as “funding the trust.” To fund the trust, you will have to title the asset in the name of the trust. For instance,…

There are many reasons to have a trust, chief among them is to avoid probate and protect assets. That alone is enough to make a trust worthwhile in many situations, especially if you have a lot of assets. The following is a brief list of the reasons people choose to to have a trust: Examples…

In Florida, you can revoke your will by (1) written instructions or (2) physical activity. Regardless of the method of revocation you choose, you must have the intent to revoke the will at the time of the revocation. Written instructions – The document revoking your will must be a subsequent will, codicil, or other writing…