Living Trusts Lawyer Valrico, FL

A living trust is an estate planning document that people use to transfer ownership of valuable assets for the benefit of their beneficiaries. Our team at Morton Law Firm has been helping individuals and their families plan for the future. Our Valrico, FL living trusts lawyer knows that people want to protect the legacy they have built over a lifetime. By using estate planning tools, such as a living trust, you can have peace of mind that your assets will be protected until it is time to distribute them to future generations of your closest friends and family. Assets can be tangible and intangible items, such as your vehicle, property, retirement accounts, jewelry, art collection, and sentimental items, among others. If you would like assistance regarding your estate plan, do not hesitate to contact our team today!

Trustee And Beneficiaries

The person creating the living trust is deemed the trustmaker, grantor, or settler. They establish the terms of the living trust. You may choose the trustee as yourself or another person. A successor trustee would ensure that beneficiaries receive assets after you have passed on based on what your instructions are in the trust. This person must honor your intentions. Your beneficiaries are those you choose to receive certain assets after your death. As our dedicated living trusts attorney explains, beneficiaries can be your spouse, children, other family members, close friends, and even charity organizations. Who you choose to be beneficiaries of your estate is completely up to you.

Benefits Of Living Trust

A living trust is a revocable document, which means the creator can revoke it at any time. One of the main benefits of a living trust is that it is revocable and can be changed based on how life may change overtime. If you revoke the living trust, it means that you terminate the terms and re-establish your property. This tool is indispensable if you ever change your mind about something later on. Another benefit to a living trust is that the estate avoids probate. Probate is a legal process overseen by the court to collect the assets of the deceased and distribute them to inheritors. This process is public, which means that anything shared becomes part of a publicly accessible record. Probate can be time-consuming and expensive, where beneficiaries could have a delay in receiving their inheritance during their grief.

Morton Law Firm

Having a living trust can be beneficial if you are looking for a way to organize and protect your assets, while securing who will receive them after your departure. Our team at Morton Law Firm can discuss with you your needs and preferences and then recommend which estate plan tools to utilize. If you have questions about how to start devising your estate plan or concerns about your current plan, we are happy to offer our knowledge and guidance. Our FL living trusts attorney can speak with you about your estate as soon as you are ready to begin!