Experienced Estate Planning Attorneys Create, Review, and Amend Trusts
Loshak Leach, LLP offers a full range of services relating to trusts, including drafting, review, amendment, revocation and execution. Our experience enables us to provide reliable and practical estate planning advice to people from all walks of life. We understand that it can feel overwhelming to make plans for property and assets you have accumulated over a lifetime, and it can be difficult to think about how your children should be cared for should the unthinkable happen. The attorneys at Loshak Leach LLP are here to guide you and put your mind at ease.
Common Types of Trusts Handled by Loshak Leach LLP's experienced attorneys
There are several bases for contesting the terms of a trust. If you wish to make a challenge, or if one has been brought against you, it is important to understand the legal foundations of your case. Reasons for disputing the validity of a trust include:
- Living Revocable Trust - A living trust is a legal document, or trust, created during an individual's lifetime where a designated person, the trustee, is given responsibility for managing that individual's assets for the benefit of the eventual beneficiary. A living trust is designed to allow for the easy transfer of the trust creator or settlor's assets while bypassing the often complex and expensive legal process of probate. Living trust agreements designate a trustee who holds legal possession of assets and property that flow into the trust.
- Irrevocable Trust - An irrevocable trust is simply a kind of trust that cannot be changed or canceled after the document has been signed. This sets it apart from a revocable trust, which can be altered or terminated and only becomes irrevocable when the trust maker, or grantor, dies. Typically, irrevocable trusts are used to reduce or avoid estate taxes. They also are used to meet other goals, such as to protect assets from being wasted or misused or to protect assets of an individual with a disability.
- Special Needs Trust - A special needs trust is a legal arrangement and fiduciary relationship that allows a physically or mentally disabled or chronically ill person to receive income without reducing their eligibility for the public assistance disability benefits provided by Social Security, Supplemental Security Income, Medicare or Medicaid. In a fiduciary relationship, a person or entity acts on behalf of another person or people to manage assets.
- Land Trust - The Florida Land Trust is a fully revocable grantor trust drafted specifically to buy, hold, finance, and sell Florida real estate in a confidential or private manner pursuant to the Florida Land Trust Act, which was adopted by the Florida legislature in 2006.
Knowing that you have planned for the long-term well-being and financial security of your loved ones can be comforting. Our lawyers at Loshak Leach, LLP will thoroughly analyze your estate and strategize the best means of transferring your assets, minimizing taxes, establishing trusts and supporting philanthropic causes.
Contact your trusted Florida estate planning law firm
Loshak Leach, LLP provides comprehensive trust services to clients throughout Florida. Call us today at 954-334-1122 or contact us online to schedule a consultation at our Fort Lauderdale office for comprehensive estate planning services in Florida and Massachusetts.