Using Trusts To Accomplish Your Estate Planning Goals
You may need more than just a will to fully protect your financial interests in your estate plan. By drafting a trust, you can set aside and protect assets for a specific use. At Locklin, Saba, Locklin & Jones, PA, our estate planning attorneys can determine if a trust would be a useful tool for you, and if it is, which type of trust will provide the most benefits for you and your Florida or Alabama family.
Call us for your appointment about estate planning at 850-665-2856.
Types Of Trusts And Their Benefits For You
It can be helpful to fully understand all of your trust options to make the most practical and useful decision. Options include:
- Revocable living trust — You can place certain assets in this type of trust, which may help you avoid the probate process. Because it is revocable, you can change the trust during your lifetime.
- Special-needs trust — This is a trust that allows you to set aside money and assets for the care of a child or another family member who may not be able to care for himself or herself.
- Charitable trust — This is an option that allows you to give to a specific cause or organization without the recipient having to pay significant gift taxes.
A trust is a powerful tool that allows you to manage your property and assets during your lifetime, as well as decide what will happen to it after your passing. There are many options beyond the above list, and it can be complex to create a trust that is specifically beneficial for you. Our Pace lawyers are knowledgeable and experienced, and we will work diligently to find the right solutions for you in a cost-effective manner. Our Santa Rosa County power of attorney lawyers also assist clients with power of attorney, wills and living wills.