Trusts have become a cornerstone of modern estate planning in Florida, offering a flexible and often efficient way to manage and distribute assets. At Cors Law, our goal is to demystify the concept of trusts, highlight their benefits, and explain how they can protect your estate. Below, we dive into the different types of trusts, their legal requirements, and how they can be integrated into your overall estate plan.
A trust is a legal arrangement in which one party (the grantor or settlor) transfers assets to a trustee, who holds and manages them for the benefit of one or more beneficiaries. The trustee has a fiduciary responsibility to adhere to the terms of the trust, ensuring assets are handled in the beneficiaries’ best interests.
• Avoiding Probate: Assets held in a trust generally bypass probate, saving your loved ones time, cost, and potential legal complications.
. Asset Protection: Certain types of trusts can protect assets from creditors, lawsuits, and other financial threats.
• Privacy: Unlike a will, which becomes part of the public record during probate, trusts typically remain private.
• Control & Flexibility: You can set specific instructions—such as distributions to beneficiaries at certain ages or milestones—to ensure your legacy is used wisely.
✅ Revocable Living Trust (RLT)
✅ Irrevocable Trust
✅ Special Needs Trust
✅ Testamentary Trust
Although both trusts and wills outline how assets should be distributed, they serve different functions in an estate plan. A trust:
A will:
With extensive experience in Florida trust law, the attorneys at Cors Law:
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"Mr. Cors is always a pleasure to work with and goes above and beyond to do a free phone consultation. I have wised him and am very happy with my estate plans also. Nicest lawyer I ever met!!"
"Our experience with Cors Law was very easy and professional. We used them to do our estate and health care proxies. Jason and the staff made us feel very comfortable. They explained everything and answered all our questions. We would highly recommend this company."
"I can’t say enough good things about working with Gary Cors at Cors Law. He’s super down-to-earth, easy to talk to, and really takes the time to make sure you feel comfortable and informed. Great communication, and just an overall awesome experience. Highly recommend!"
"Jason really came through in the hardest time of my life. He showed dedication and care working my case. Very thankful a friend recommended him, and I will be recommending Him to anyone who needs real legal assistance."
"Had Gary do my estate planning/will. Professional, thorough, excellent communication. Highly recommend their service. "
"So thankful to have found this attorney. The entire office is wonderful. Professional, down to earth, friendly people who treat you with care and respect! "
Trusts play a pivotal role in comprehensive estate planning, allowing you to maintain control over your assets while providing for your loved ones in a streamlined manner. Whether you’re looking to reduce probate complexities, protect assets, or coordinate complex family structures, Cors Law stands ready to help you design a trust that meets your needs.
Contact us today to learn more about creating or updating a trust in Florida. We believe that a well-crafted estate plan should evolve with you, ensuring your legacy remains secure throughout life’s many changes.
