Estate planning is an important step in providing for friends and family in the future. For some people, drawing up a last will and testament is the easiest and most practical way to manage their estates and to avoid the necessity of probate in the state of Florida. In some cases, however, creating a revocable living trust is an outstanding alternative to a traditional will. These legal arrangements are designed to provide a framework for managing assets during the grantor’s lifetime and for distributing those assets when the time arrives.
A revocable living trust is a legal document that provides instructions on the distribution of your assets if you become incapacitated or after your death. This legal arrangement provides protection for your assets from probate and gives clear guidance on your wishes if you become mentally or physically incapable of making decisions for yourself. Working with a qualified Fort Lauderdale trust planning lawyer is the first step in creating this legal document and protecting your interests and those of your beneficiaries.
Establishing a living trust is complicated and requires an experienced attorney to navigate the process. For example, couples can choose to create separate trusts or one joint trust that includes all their assets and instructions for their disposal and use. Deciding on which of these solutions is the correct one can be difficult. An attorney who specializes in elder law can provide you with expert guidance on the proper way to set up your revocable living trust.
Along with the revocable trusts, which can be changed at any time by the trustee, irrevocable trusts can also provide some protection for your assets. An irrevocable trust can normally only be changed if all parties to the trust agree to the changes. For this reason, it is usually more advantageous for Florida residents to choose a revocable trust for their estate planning needs. Your Fort Lauderdale trust planning lawyer can provide you with the guidance and support you need to put the right plans in place for your estate.
The Law Office of Rhonda D. Zimmerman, Esq. can provide you with the support you need in the field of elder law. We work with you to protect your assets and to ensure that your estate is handled smoothly when the time arrives. Call us today at (561) 672-7265 to schedule an appointment with us. We look forward to the opportunity to serve you.