3 Reasons Why Most Trusts Will Fail

3 Reasons Why Most Trusts Will Fail

Are you considering adding trusts to your estate plan? Are you familiar with what a trust can do for your estate plan, but also what you must do as well? First, a trust is a legal document that identifies the purpose of the trust, the trustee of the trust and his or her powers, the beneficiaries of the trust, and the requirements for distributing the trust assets to the beneficiaries. Secondly, the trustor must fund or place into the trust his...
Do You Know What Happens If You Do Not Have A Last Will and Testament or Other Estate Plan?

Do You Know What Happens If You Do Not Have A Last Will and Testament or Other Estate Plan?

As a Florida senior adult, enjoying life in the Sunshine State, do you have an estate plan in place? Did you know that research tells us that less than 50% of all Americans have an estate plan or even a will. We want you to know that without an estate plan in place your family may face difficulty after you pass away, including sorting out your assets and any debts you may have. In regard to estate planning, no matter how big or how small,...
Can You Use Different Trust Types in Estate Planning?

Can You Use Different Trust Types in Estate Planning?

Did you know that trusts are one of the estate planning tools created for the management of assets, both during your life and after your death? In fact, there are several types of trusts to use in estate planning. However, in this blog we will divide trusts into a couple of categories to make them easier to understand. In the simplest terms, trusts are either revocable or irrevocable. This means they can either be changed or revoked after they...
As You Make Plans in the New Year, Consider a Trust

As You Make Plans in the New Year, Consider a Trust

Are you reflecting on the resolutions you made for the new year? We believe that creating a Florida estate plan is one of the most important New Year’s resolutions you can make this year. A Florida estate plan can protect both now, while living, and at the time of your death. Your Florida estate planning attorney will work with you to create a plan that ensures your choices for your health care and finances are honored by your chosen decision...
How You Can Use Your 529 Savings Plan as an Estate Planning Tool

How You Can Use Your 529 Savings Plan as an Estate Planning Tool

Many parents use 529 savings plans as a way to let their child’s college funds grow tax-free. Did you know, however, that 529 plans are not just for parents and children? They are also not limited to use for tuition. Parents, grandparents, and other adults with children, grandchildren, nieces or nephews can use a 529 savings plan not only to fund college tuition, but to ensure that a myriad of other expenses are covered for their loved ones,...