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Trusts Archives

Steps that you can take to avoid the Florida probate process

When someone dies, the executor of their estate locates and files their will with the probate court in the Florida county where the decedent resided at the time of their death. You don't avoid the probate process by not having a will in place. There are, however, steps that you can take to avoid probate.

How are living and testamentary trusts different from each other?

If you've taken the time out of your busy life to engage in estate planning, then you probably have specific ideas about what you'd like to happen with your property once you pass away. What you may not realize is that many of your Florida assets have to be probated unless you take time to place them in a trust. There are so many options to choose from though. Testamentary and living trusts are two asset protection tools that you may want to learn more about.

What is an irrevocable living trust?

One misconception about trusts is that only the extremely wealthy benefit from creating them. The truth is that trusts are a great estate planning tool for those in a wide range of situations. For example, trusts can help you ensure that your disabled child will always be provided for.

What are spendthrift trusts?

Trusts are a tool many individuals, known as testators, use to protect the value of their assets and for passing money and other valuable items onto their heirs. Most testators set up trusts to ensure that their assets are protected from ending up in the hands of their creditors. There are many different types of trusts. Spendthrift ones are unique in that they keep money safe from both creditors and heirs.

What are the main reasons to avoid probate?

If you have recently started to research estate planning, you may have started to notice that a huge emphasis is placed on attempting to avoid probate. Probate is a court-supervised process that essentially ensures that all assets within an estate are distributed correctly. So, you would be right to question why estate planners want to avoid probate.

Estate planning strategies for probate avoidance

When planning your estate, you will probably conclude that probate is an inefficient process that is costly and time-consuming. Probate means that your beneficiaries will inherit a lower portion of your estate due to the costs involved. Understandably, many estate planners are curious about what they can do to avoid probate.

What is a charitable trust?

Florida residents like you who have decided you want to leave some or all of your assets to charity will need to learn more about the means by which you can do so. We at the Law Offices of Frye & Vazquez, P.L., are here today to discuss exactly that.

What is a charitable trust?

As a Florida resident who is figuring out how you want your estate distributed, you may also be looking into the possibility of setting up trusts. Today, the Law Offices of Frye & Vazquez, P.L., will discuss the option of setting up a charitable trust.

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