Law Offices of Frye & Vazquez, P.L.
Call Today. 305-508-5749 | 877-421-5473

Determining whether trusts will be part of an estate plan

Although many people avoid discussions that pertain to their own mortality, others understand the need for crafting thorough and customized estate plans. Some say this is the best means for specifying one's wishes and providing for loved ones' futures. Included in many estate plans are various types of trusts.

Understanding the different types of trusts available and determining which type, if any, best suits one's personal needs and estate planning goals is a personal matter, often best addressed through experienced legal counsel. Trusts are considered planning tools that not only help manage property issues when an estate owner is still alive but may ensure a smooth transition of assets after a benefactor dies as well. Trusts may be irrevocable or revocable; the main difference being that a revocable trust may be changed or modified by an appointed trustee.

Trusts typically refer to a transfer of ownership regarding property or assets. Depending upon the age and size of an estate owner's property and other factors of consideration, the procedures for setting up a trust may vary. Each situation is different and estate owners often customize their decisions to suit their individual needs.

In addition to planning for one's inevitable death, decisions concerning trusts are often made with regard to the possibility that an estate owner may one day become incapacitated and unable to make important financial decisions. Under such circumstances, it is often helpful to retain the assistance of an experienced estate administration and probate attorney. He or she would be able to answer questions regarding trusts, as well as any number of other questions pertaining to the topic.

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying

  • It is difficult enough to cope with the emotional challenges of closing a parent's estate, and when you are also faced with the issue of your parents having insufficient documentation, and being remote from your siblings… - Zara L.
  • Austin Frye provided legal services to my father while alive and to his estate after his death; when showing the EP docs his firm prepared to other professionals (lawyers, financial advisors, accountants)… - Mark S
  • I've been a client of Austin Frye's for over 10 years. In that time, he's handled my estate/trust planning and asset protection as well as complicated business deals. - Leslie
  • Mr. Frye recently set up a complicated special needs trust for my son and, as usual, did a great job explaining it and in putting our minds at ease about our son's future well-being. - Dr. Howard
Read More...
  • NYSBA
  • Massachusetts Bar Association
  • The Florida Bar 1950
  • CFP
  • Florida Bar Elder Law Member
  • Academy Of Florida Elder Law Attorneys
  • Florida bar Business law Member
  • NAELA National Academy of Elder Law Attorneys, Inc.
Email Us For a Response

Contact Us For Personal Attention To Your Legal Matter

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Location

Get In Touch With Us
20900 W. Dixie Highway
Aventura, FL 33180

Toll Free: 877-421-5473
Phone: 305-508-5749
Map & Directions