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What are the advantages of a trust as part of my Fort Myers, Florida estate plan?

 

A:

A Cape Coral estate attorney can explain the advantages of including a trust as part of your Florida estate planning. If your net worth is $100,000 or more and you meet any one of the conditions listed below, you may benefit from having a trust: 

  • You have significant assets in a business, real estate or an art collection. 
  • You want your heirs to have your estate, but you don't want it directly payable to them when you die. For example, you may want certain conditions to be met before they can get their inheritance.
  • You want your spouse to be supported, but you also want the rest of your estate to go to any chosen heirs when your spouse dies. 
  • Your goal is to maximize estate-tax exemptions. 
  • You want to provide for a disabled relative without disqualifying them from government assistance such as Medicaid. 

Trusts are complex and varied, so before you settle on one, you should discuss your concerns thoroughly with a Cape Coral estate attorney.

Common Advantages of Trusts in Florida Estate Planning

Among the primary advantages of trusts are:

 

  • You can put conditions on the distribution of your assets.
  • Gift taxes and estate taxes can be reduced.
  • They allow you to distribute assets efficiently without the trouble of probate court.
  • They provide some protection from lawsuits and creditors.
  • Trusts allow you to appoint a successor trustee, who can manage your assets if you become incapacitated.

Your attorney can answers any questions you may have about costs, fees and everything a trust entails with Florida estate planning.

Help From a Cape Coral Estate Attorney is a Just a Phone Call Away

Estate attorney Matthew A. Linde understands firsthand the importance of careful estate planning and the complexities of financial legal matters, such as probate, tax litigation and guardianship. For help with your estate planning concerns, contact our Fort Myers office to schedule a one-on-one meeting with a professional who can answer your questions – 1-239-939-7100 or 1-888-643-6514.

 


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Fort Myers, FL 33907

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