David Howard Goldberg, P.L.

trusts Archives

Trusts are an important component of an estate plan

Florida has a large population of older Americans, which should come as a surprise to no one. As they enjoy their golden years in the sunshine state, spending a little time considering the status of their estate plans could be time well spent. A plan does not need to be complex to be effective but there are some basic documents a person should be familiar with in order to be able to formulate a plan to meet his or her needs. These documents include wills, trusts, power of attorney designations and medical directives.

Trusts are versatile estate planning tools

It is not unusual for Florida residents to postpone doing important things, such as changing the oil in their cars or getting a regular medical checkup. Another important task many put off is creating an estate plan. One reason for the delay is that they do not understand the importance or benefits of an estate plan, especially revocable trusts. While wills are easy to make, trusts can be essential for those who have particular goals in mind for their plans.

Trusts can have more flexibility than some people think

Life commonly has unexpected elements, and it can be difficult to plan ahead knowing that anything is possible. Still, it is important that Florida residents try to account for their end-of-life wishes through estate planning. Fortunately, when individuals use trusts, they have options for accounting for the possibility of the unexpected.

Are irrevocable trusts useful to estate planning?

Many Florida residents may not fully understand many of the options available to them when estate planning. On the other hand, some parties may have heard of certain tools but believe that they do not need them, like trusts. Really, this option could benefit anyone depending on the details of the particular estate.

Trusts can hold life insurance payouts for minors

No one wants to think about the possibility of dying while their children are still young. Nevertheless, prudent Florida parents will set aside their emotions and figure out the most effective way to provide for the financial needs of their children, plan for their education and ensure they are well cared for if this sad event occurs. For many, including trusts in their estate plans is the most appropriate method.

Trusts, wills and other tools can help single adults plan well

It is not easy to make decisions for the future, especially if a person is young, healthy and unmarried. Single adults often overlook the need to have a strong estate plan in place because they feel that it is not necessary. However, through trusts, wills and other types of documents, they can secure their own interests and the interests of their beneficiaries in case of a serious medical situation or unexpected death.

The appropriate way to handle trusts in a Florida family

Every Florida family has different estate planning needs and goals. In some situations, leaving assets through a will is sufficient, but there are other tools available that can help a person achieve his or her goals for beneficiaries and heirs long after passing. One way to do this is through trusts. This specific option allows a person to set aside and protect assets for a specific use.

Families use trusts for heirs with addictions

Few families in Florida or elsewhere in the country are untouched by the opioid epidemic. Drug overdose is now the number one cause of death for those younger than 50 in the United States. Drug addiction has no demographic, and families of all backgrounds are watching loved ones struggle with the powerful hold of heroin, prescription drugs and other substances. Because of this added complication when it comes to estate planning, many include trusts among their documents.

Assets not funded to trusts lead to complications for heirs

Establishing a revocable living trust is a wise move for many in Florida who are planning their estates. Revocable trusts protect assets from taxes and probate and allow heirs to benefit from the assets according to the trustee's directives. However, establishing a trust is only the first step. Assets are not covered by the terms of the trust if the trustee does not fund them to the trust.

Pet trusts are a loving legacy

The thought of losing a beloved pet is almost too difficult for most people to bear. However, few pet owners consider what may happen if their animal companions should outlive them. Countless pets end up in shelters and worse when their owners pass away without establishing a plan for the care of their pets. Fortunately, thorough estate plans can include trusts to provide for surviving pets.

Contact Us Now

Ask An Attorney About Your Options

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Visit Our Office

David Howard Goldberg, P.L.
One SE 3rd Ave suite 1940
Miami, FL 33131

Phone: 305-760-8888
Fax: 305-760-8889
Miami Law Office Map