Planning for your legacy requires you to think about the best ways to appoint people who manage your estate in Florida. When you choose a trust to organize your estate, your trustee has certain fiduciary duties to fulfill. The trustee you appoint must manage your...
Who should you choose as your trustee?
Setting up your trust comes with a number of important decisions, and one of the most important may be choosing who will manage the trust according to your instructions. According to The Florida Bar, you should consider these factors before choosing a trustee. The...
Explaining an inter vivos trust
If you are getting ready to sit down with your attorney to create an estate plan, one of the trusts you need to have an understanding of is the inter vivos trust. This trust is created by the trustor when putting together the estate plan. An alternate name for this...
Steps for changing the trustee of a trust
Creating a trust is one of the most important parts of putting together your estate plan. But, did you know that you can change the trustee whenever you see fit? That's right; the trustee you choose is not set there for eternity. You can make a change for whatever...
The benefits of a revocable trust
Creating a revocable trust is one option you have to make sure your estate is passed to your beneficiaries upon your death. A revocable trust is created by signing a document and naming a person, corporation or both entities to be the administrator of the trust. The...
Understanding the goals of a trust
When a loved one passes away and decides to leave some of their assets in a trust, the trust then governs what happens with that money. This goes beyond merely what is written in the will. For instance, a person may consider leaving $100,000 to a grandchild so that...
7 common types of trusts
The way that the trust administration process plays out depends on the specific stipulations in that trust, the goals of the original creator of the document and what type of trust it is. Everyone who sets up a trust should have considered all of their options to...
Can an educational trust be used for anything else?
Your parents left you an educational trust so that you would never have to worry about tuition costs. However, you have quickly learned that life comes with a lot of other costs, and you're wondering if you can use the trust for anything else. It's not as if you want...
How to choose the right trustee
Choosing the right trustee is one of the most important parts of developing an estate plan. A trust helps you protect yourself, your assets and your loved ones once you are gone. If you don't choose someone who is responsible enough to handle the trust, then you could...
4 times you should review your living trust
It's a smart idea in life to have a living trust. It's an even smarter idea to review that living trust every so often. How often should you review the contents of your trust? This is an interesting question that brings with it a four-part answer. There are four very...
