William A. Johnson, P.A. William A. Johnson, P.A.
Probate And Elder Law Services In Brevard County
Free Consultation: 321-426-1865

trust administration Archives

Survey shows family drama among estate planning woes

In light of recent news about tax law changes, some people are worried about how the changes could affect future plans, but a survey shows that even more people are concerned about family issues. Due to the changing and expanding nature of families, estate planning has become more of a challenge for some individuals. A thorough look at the needs and values of a family can help a person plan for his or her needs and wishes in regard to his or her Florida estate. 

Avoid this mistake for easier trust administration

An estate plan can be a useful tool for the person who wants to protect assets and ensure a smoother transition. As part of an estate plan, many Florida residents elect to create a revocable living trust to house their assets. Unfortunately, after setting up the trust, some individuals forget to fund the vehicle, thus making trust administration difficult for the successor trustees. 

Funding a trust now can help with trust administration later

A new car without fuel might be considered useless. Similarly, a trust that hasn't been properly funded won't be of much use and can be a headache for the individual charged with trust administration. It can be easy and relatively inexpensive to create a trust, but without funding it with the estate assets, the power of the trust is limited. In Florida, a person who wishes to create an estate trust may not want to neglect funding the estate vehicle. 

Using a trust to transfer assets

When it comes to estate planning, individuals have several options and many details to consider. One way to transfer assets to beneficiaries or heirs is through a structure called a trust. A trust has certain benefits for Florida residents who are looking into the process of planning how to pass along their accumulated wealth. 

Trust planning: Avoiding common pitfalls

When individuals approach preparations for the distribution of their assets, it is likely that they wish to avoid any situations that could lead to confusion about their final wishes. Whether a person creates a will, or dives deep into trust planning, once the effort is put forth, most people hope to have the distribution carried out according to plan. Florida residents have the ability to inform themselves about common pitfalls when it comes to estate planning, and in that way, they can hope to avoid future problems with the estate. 

A trust can provide stability for a child's future

Once a person has climbed the mountain of accruing wealth, they usually desire a way to share that wealth with family. A person who has retired and is debt free will likely be thinking about estate planning. Not every person will have confidence in a child's preparedness to receive a large sum of cash, nor will every child's circumstances be ideal for an infusion of cash. For individuals in Florida, a trust is a possible route for ensuring the longevity of the inheritance gift. 

Trust administration attorneys can help with choosing a trustee

Important legal documents should be prepared with care and understanding. A living trust is no different. When creating a trust, one should weigh the important question of who should become the successor trustee, knowing that the position comes with heavy responsibilities. In Florida, while it is certainly possible to go through the trust process without a lawyer, trust administration attorneys are also good resources for this legal process. 

Trust administration and revocable trusts in Florida

The legacy one leaves behind can be managed in a variety of ways. Some opt for the traditional will, and others decide that a trust is the right choice for their needs. A revocable trust is a type of trust that allows the grantor to alter or revoke the trust should circumstances change. In Florida, trust administration is enacted by the trustee. A recent new story tells more details about one type of trust, the revocable trust. 

Florida trust administration: Who will protect your assets?

Most people recognize the importance of estate planning and typically want to ensure they entrust the right people with their assets. In many scenarios, trust administration is an important consideration when planning an estate, and careful consideration typically accompanies the choice of a trustee. Professional guidance in Florida can be a significant advantage in choosing who to entrust with estate administration.

Contact

William A. Johnson, P.A.
140 Interlachen Road, Suite B
Melbourne, FL 32940

Phone: 321-426-1865
Fax: 321-242-8417
Melbourne Law Office Map