A trust attorney can help you establish a trust to distribute specific assets, income, or property according to your wishes. One key advantage of a trust is that it avoids probate, unlike a will, which helps maintain privacy. Probate proceedings are handled by the court and can make your assets and the terms of your will part of the public record.
Trusts are a Vital Part of a Comprehensive Estate Plan
Trusts, both revocable and irrevocable, hold specific assets to control how income and assets are distributed. A named trustee can be a friend or family member as well as a professional or organization. They manage property by following the strict instructions you provide. Trusts are customized to your needs, and some types can be flexible. They can supplement wills, managing property while you’re still living and after death. You may have more than one trust, and they need to be set up according to Florida laws to achieve your goals. The Mazenko Law Firm helps you avoid critical mistakes and unintended outcomes.
A revocable living trust can be created and controlled by you (or another trustee) during your lifetime. You can undo the trust, change its terms, and move property and assets in and out of the trust’s ownership anytime. Revocable trusts are designed to switch to an irrevocable trust upon your death.
The right estate plan uses your trust to organize, manage, and distribute assets properly, to avoid any confusion and maintain family harmony. It’s important to regularly check who your beneficiaries are on items such as annuities, life insurance policies, retirement plans, etc. The beneficiaries for these accounts are designated separately from your trust.
Speak to a Florida Trust Attorney & Preserve Your Assets
You’ve worked hard, saved, and accumulated assets that took years to earn. They can be jeopardized by personal and business liabilities, creditors, and taxes consequences before or after your death. An estate plan uses revocable living trusts as legal strategies to protect your assets from potential risks after you pass and clearly defines how they’re distributed outside of probate.
Ensure Trusts are Established Correctly and Fulfill Their Specific Purposes
Only a well-developed trust that is properly funded will perform as intended when you need it. We create your trust to achieve specific goals, provide guidance when transferring assets to the trust, and periodically review your entire estate plan to ensure changes in assets and beneficiaries are addressed both inside and outside of the trust.
Attorney Todd Mazenko is the owner and founder of the Mazenko Law Firm located in Mount Dora. His law practice focuses on estate planning, including wills, trusts, and probate, and he speaks throughout central Florida on these topics.
If you need an experienced trust attorney in Florida, the experienced team at Mazenko Law Firm can help create a customized plan including wills and trusts. Subscribe to our newsletter or sign up for upcoming events where you can learn valuable estate planning information.
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About Trusts
Client Testimonials
Very professional and well-run business, and that includes the front desk. All our questions were answered and communication was always timely. The documents produced covered all aspects of our trust. Highly recommend.
– Mark M.
Todd and staff were always helpful and accurate with every phase of preparing my trust. Also great with providing me with a trustee. Most grateful.
– Dick B.
Our signing of the trust was flawless. The Mazenko team was very professional. Answered all our questions and concerns. Would not hesitate to recommend the Mazenko Law Firm to others.
– Howard G.
We’ve been procrastinating on setting up a trust because we thought it was too expensive and time consuming. Neither is true when hiring Todd Mazenko. He was very helpful and his staff is first rate.
– Lori & Jim
A professionally drafted living trust in Florida typically costs between $1,000 and $3,000 depending on your asset complexity. This investment can save your family thousands of dollars in future probate court costs and legal fees.
The main benefit is that a trust allows your assets to pass to heirs privately and immediately without going through public probate court. Trusts, compared to a will, also provide incapacity protection by naming someone to manage your finances if you become sick or injured.
Funding is the process of changing the ownership of your assets from your individual name to the name of your trust. A trust can only control and protect the assets that are formally titled to it.
If you create a revocable living trust you typically act as your own trustee and keep full power to manage your assets. You can change the terms of the trust or cancel it entirely at any time as long as you are competent.
A standard revocable living trust does not protect assets from your own creditors or help you qualify for Medicaid. Specialized irrevocable trusts are required for specific asset protection or Medicaid planning goals.
You will need a special document called a pour over will to act as a safety net for any assets you forgot to put into your trust. This ensures that all your property is eventually distributed according to your trust instructions.
Settling a trust is generally much faster than probate and usually takes between six months and one year. Because there is no court involvement your heirs can often receive their inheritance much sooner.
While Florida has no state inheritance tax a well structured trust can help minimize federal estate taxes for very large estates. An attorney can help you structure the trust to be as tax efficient as possible for your heirs.
A living trust is one of the best ways to handle property you own in another state. Putting that real estate into your trust avoids the need for multiple probate processes in every state where you own land.
A successor trustee is the person or company that takes over management of your trust when you pass away or become incapacitated. It is important to choose someone who is financially responsible and willing to follow your instructions exactly.
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Mount Dora, Florida 32757
Phone: (352) 565-7737
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