Trust and Trust Planning Attorneys Serving Florida’s Treasure Coast
Trusts can be very powerful tools for managing your personal and financial affairs, when used wisely.
A trust is a separate legal entity into which you place assets. Under this arrangement, a person or entity legally holds property for the benefit of another. The person, or entity, holding the property is known as the trustee. The person for whom the property is held is the beneficiary.
Our qualified attorneys can tailor trust arrangements to your personal circumstances to:
- Protect assets from creditors
- Reduce estate tax and income taxes
- Provide for management of your assets if you are incapacitated
- Time distributions to heirs after your death — such as when they reach a specified age
- Protect funds from irresponsible spending by family members
- Keep assets in the family — such as preventing them from being lost to a child’s spouse in a divorce
- Allocate assets to heirs, especially if more than one marriage creates more than one family to support
- Make charitable gifts on favorable tax terms
- Dedicate funds to a particular use (such as a child’s education)
- Avoid probate
A trust can be created to take effect immediately, upon your incapacity, or only upon your death. It may be revocable or permanent and irrevocable.
Our experienced attorneys explain each type of trust and outline their benefits and potential drawbacks. Gregory Keane is a Florida Bar Board Certified Tax Lawyer and a Board Certified Wills, Trusts and Estates Lawyer. Board Certification is the highest level of recognition given by the Florida Bar for competency and experience in the areas approved by the Florida Supreme Court. This designation signifies that an attorney meets standards for knowledge in certain areas of the law, professionalism and ethics in practice. With your overall estate plan in mind, we can help you select the appropriate trust. Possibilities include:
If you have moved to Florida from another state after establishing one or more trusts under the other state’s laws, it is important that you review them with a Florida trust attorney right away. Trust law is complex and state-specific. Your current trusts may not work as intended under Florida law.
Faulty trust danger
Many faulty trusts are sold by non-trust attorneys who make exaggerated or false promises about their ability to cut taxes, defeat creditors and provide other benefits. In fact, the IRS highlights trust abuse in its Dirty Dozen Tax Scams. Such a faulty trust is not only expensive but can create costly legal problems — such as opening you to a tax investigation.
Our lawyers review your existing trust arrangements, fix any problems with them, and tailor your trusts to best meet your specific needs. Always consult a trust attorney before adopting a trust.
Quality, integrity, and personalized legal service
For legal help regarding wills, estates, trusts, elder law or guardianship, call The Law Offices of Keane, Thomas & Pinnacoli at 772-288-0000 or contact us online.