At Hirani Law, we can help you devise a trust that is legally sound and protects your best interests. To create a trust that is effective, it must be in writing, clearly outline the intent of the grantor, list beneficiaries, and appoint a trustee. The trust has to be funded with assets, and the trust document must be created considering formalities and law. Our Winter Park, FL trust lawyer can guide you through every step so that the overall process is less stressful. We know that establishing a trust can seem overwhelming, but we know how to simplify this process. Contact us now for support!
Trust Lawyer Winter Park, FL
Setting up a trust in Florida can be a crucial step in protecting your assets and ensuring that your estate is going to be managed based on your expressed wishes after death. However, it is essential that you avoid the many common pitfalls and complications of devising a trust. When building a trust, you must select the type that is most beneficial for your situation, such as choosing between an irrevocable trust, revocable trust, living trust, or testamentary trust. As our Winter Park trust lawyer explains, understanding the impacts of which trust you pick can make the difference in how your assets get protected and distribution to beneficiaries later on.
A trust is a legal resource that holds your assets on behalf of a beneficiary or many beneficiaries. The grantor can transfer ownership of property into this trust, which then gets overseen by their appointed trustee. Trusts serve many purposes, such as financial support, asset protection, charitable goals, and tax planning. This tool can offer ongoing financial assistance to beneficiaries, protect assets from creditors and lawsuits, structure trusts in a manner to reduce tax liability, and facilitate any philanthropic endeavors. For more details on how our trust attorney can help you, reach out at your next earliest convenience!
Why Experience Matters When Devising A Trust
It is important to protect your legacy by using a trust to safeguard your assets. If you do not do so before passing on, it could risk what you have built. You can depend on our trust attorney to advise you on trust creation for the following reasons:
- Our team is a family run law firm that prioritizes our clients needs, preferences, and wishes.
- We have been working for the best interests of clients for more than three decades, offering attuned insight into creating a legally binding trust.
- Our initial consultations are at no cost to you, so you can learn more about our services before we begin.
At Hirani Law, you can rely on us to be your source of information. Our Winter Park trust lawyer is seasoned in the steps and legal aspects of establishing a trust. To get started writing your trust, reach out as soon as you can! We are glad to offer guidance that makes a difference for your legacy now and into the future. We hope to speak with you today!
Types Of Trust Services We Offer
Trusts are valuable tools for managing property, caring for loved ones, and making sure that your wishes are carried out as intended. As your Winter Park, FL trust lawyers, Hirani Law offers a variety of services designed to meet different goals and circumstances. We also have over 35 years of legal experience, which we’ll use to make sure you’re protecting your legacy. Read on to see our services, and contact a trust planner from our team to get started.
Revocable Living Trusts
A revocable living trust allows you to maintain control of your assets during your lifetime while outlining how those assets will be managed or distributed after you pass away. With the help of your trust administration lawyer, this type of trust can be changed or canceled as your needs or circumstances evolve.
Irrevocable Trusts
An irrevocable trust transfers ownership of your assets into the trust permanently. This type of trust cannot be easily changed once it is created, and it is often used to protect assets, manage tax concerns, or plan for long-term care needs.
Testamentary Trusts
A testamentary trust is created through a will and only goes into effect after your passing. It is often used to provide ongoing financial support for children, family members with special needs, or others who may benefit from structured distributions over time.
Special Needs Trusts
Families who want to provide for loved ones with disabilities may consider a special needs trust. This type of trust helps provide financial support while protecting eligibility for government benefits and services.
Charitable Trusts
A charitable trust allows you to support causes that are meaningful to you while also providing tax benefits. These trusts can be set up to donate funds during your lifetime or after your passing, creating a lasting legacy of giving.
Spendthrift Trusts
A spendthrift trust is designed to help protect assets from being mismanaged or accessed by creditors. With the help of your Winter Park trust lawyer, you can provide controlled distributions to the beneficiary, offering both financial support and long-term protection.
Family Trusts
Family trusts are created to manage and distribute property among family members. These trusts can help prevent disputes and provide clear instructions for how assets should be shared, making transitions smoother for everyone involved.
Asset Protection Trusts
An asset protection trust is designed to shield property from claims by creditors or lawsuits. This type of trust is often used by individuals who want to safeguard their personal or business assets while planning for the future.
Generation-Skipping Trusts
A generation-skipping trust allows assets to pass directly to grandchildren or later generations, often with tax advantages. This type of trust is used to preserve wealth and provide long-term financial stability for a family. However, you’ll need the help of an experienced estate management lawyer to create one of these trusts.
Support For Every Stage Of Planning
Setting up a trust is an important step toward protecting your assets and providing for your loved ones. At Hirani Law, we’ve spent over 35 years helping clients with real estate, business law, and estate planning needs. We’re ready to help you next. Contact our team today, and see how a Winter Park trust lawyer from our office can protect your tomorrow.
5 Steps In A Trust Process
Creating a trust is one of the most effective ways to manage and protect assets for the future. It helps you decide how your property will be handled, who will benefit from it, and when distributions will occur. At Hirani Law, we guide families and individuals through each step of the trust process, making sure every decision aligns with their goals and state requirements. Call our Winter Park, FL trust lawyer to schedule a consultation!
1. Defining Your Purpose And Goals
The first step in creating a trust is determining why you want one and what you hope to accomplish. Some people establish trusts to provide for loved ones, while others want to minimize taxes or avoid probate. During this stage, we help clarify what assets should go into the trust and who the beneficiaries will be. This step is important because it lays the foundation for every other part of the process.
2. Choosing The Right Trustee
Once you know what kind of trust you want to create, the next decision involves choosing a trustee. The trustee is the person or institution responsible for managing the assets and carrying out your wishes according to the trust document. This role requires honesty, organization, and attention to detail. Our team helps clients weigh the pros and cons of different trustee options so that the person you choose can confidently manage the responsibilities involved.
3. Drafting The Trust Document
After defining your goals and selecting a trustee, the next step is drafting the trust agreement. This document outlines how assets are to be managed and distributed, what powers the trustee has, and any conditions that must be met before distributions occur. Because each trust is unique, the language must be precise and compliant with Florida law. Our Winter Park trust lawyer will help make sure your trust and will are legally binding. With us, you’ll benefit from our over 35 years of experience.
4. Funding The Trust
A trust is only effective once it’s properly funded. This means transferring ownership of your chosen assets—such as real estate, bank accounts, investments, or personal property—into the trust’s name. Without this step, the trust cannot perform its intended purpose. We help clients identify which assets to transfer and prepare the necessary paperwork to complete the process.
5. Managing And Updating The Trust
Once the trust is active, it must be managed correctly and updated as circumstances change. Life events such as marriage, the birth of a child, or significant financial changes may require revisions. Trustees are responsible for recordkeeping, tax filings, and distributions based on the trust’s terms.
Seek Our Legal Help Today
Setting up a trust provides long-term benefits for you and your loved ones by protecting assets and simplifying future decisions. Each step—from planning to management—plays a vital role in creating a structure that reflects your intentions. Our family-run law firm will sit down with you to create a personalized plan. Call us today at Hirani Law to work with our Winter Park trust lawyer!