Trusts can distribute specific assets, income, or pieces of property. The benefit of a trust is that it does not go through probate, like a will, which allows more privacy. The probate court makes your assets and the terms of your will public.
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 lawyer 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
While you can create a trust without a lawyer in Florida, it is advisable to consult one. Trusts involve complex legal and financial considerations, and a lawyer can ensure the trust is properly drafted, meets legal requirements, and effectively fulfills your intentions. They can also provide guidance on tax implications and asset management.
The average cost of setting up a trust in Florida typically ranges from $1,000 to $3,000. Costs can vary based on complexity and whether you engage a lawyer or use an online service. Additional fees may apply for ongoing management and legal advice.
Settling a trust in Florida generally takes between six months to a year, depending on the trust’s complexity and the efficiency of the executor or trustee. Factors like asset valuation, debt settlement, and legal disputes can extend this timeframe. Simple trusts may settle more quickly.
Yes, a trust can be challenged in Florida. Grounds for challenge include lack of legal capacity of the grantor, undue influence, fraud, or improper execution. Challenges must be filed within a certain timeframe, and the process can be complex, often requiring legal assistance to navigate effectively.
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Mount Dora, Florida 32757
Phone: (352) 565-7737
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