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

Who should have a trust?

Setting up a trust in Florida could potentially safeguard your assets. The idea is that someone responsible uses the money in the specific way you intend. If there is a purpose you have in mind for your wealth, then there is likely a trust to fit that specific purpose.

In short, you could consider using a trust if you care about who receives your money and how they use it. If you want more control over your resources and you are willing to commit time and money to achieve that goal, then read on.

You could conceivably divide all trusts between two categories. While this is an oversimplification, you could choose one of the following: a type of financial strategy in which you retained control over your wealth for the time being or one in which you allowed somebody else to take care of matters.

The Motley Fool offers a great deal more detail on the subject of trusts for wealth management and probate avoidance. The article attempts to dismiss the misconception that you have to be fabulously wealthy to establish a trust. It also outlines a few categories, including:

  • Charitable giving
  • Testamentary documents
  • Revocable and irrevocable trusts

Regardless of which you choose, these documents should be written to take full advantage of their legal protections and predict potential risks to their integrity. In the case of a trust that is designed to manage assets after you are no longer able to do so, it is often important to choose the language carefully in order to dissuade administrators or beneficiaries from reallocating the funds. This is not intended as any type of professional advice, it is only meant as a general discussion.

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying

  • I have known and worked with Austin Frye and his team since 2008. In that time he has helped serve both my business and personal legal planning needs. From guidance on reviewing and keeping shareholder and state documentation up to date... - Robert
  • 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
  • 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

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.


Privacy Policy

Office Location

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

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