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What exactly is a Trust?
As with most of the legal instruments that may be used as part of a well thought out estate plan, you should consider whether you would benefit from having a Florida trust and how a Florida trust prepared by a knowledgeable estate planning attorney may help you achieve your goals.
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The Law Offices of J. Manuel Acevedo, P.A., are located at 116 North Park Avenue in Sanford, Florida, 32771.
Attorney Acevedo is a lawyer admitted to practice law in Florida, has clients from Florida, the United States, and other countries, and primarily
serves Seminole County, Volusia County, Orange County, and Lake County, and the following cities: Sanford, Longwood, Lake Mary, Heathrow,
Altamonte Springs, Casselberry, Oviedo, Goldenrod, Fern Park, Forest City, Midway, Geneva, Chuluota, Winter Springs, Wekiva Springs, Deland, Deltona,
Orange City, Debary, Lake Helen, Daytona, Deleon Springs, Orlando, Apopka, Maitland, Lockhart, Azalea Park, Winter Park, Mount Dora, Tavares, and Eustis.
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A Florida trust may be created to hold and manage assets during the settlor's lifetime and sometimes to continue holding and managing the assets after the settlor passes away. These Florida trusts are referred to as inter vivos trusts or living trusts.
"Fear of death increases in exact
proportion to increase in wealth."

Ernest Hemingway
Is the use of a Trust right for You?
A trust is the legal instrument in which typically a person makes an arrangement that allows a trustee to hold and manage assets for a beneficiary or a number of beneficiaries.
1. The person making the trust, that is, the settlor, must indicate an intent to create the trust.

2. With some limited exceptions, the trust must have a definite beneficiary.
As with most of the legal instruments that may be used as part of a well thought out estate plan, you should consider whether you would benefit from having a Florida trust and how a Florida trust prepared by knowledgeable estate planning attorney may help you achieve your goals.
Although it is almost always a good idea to have your trust in writing, there is no requirement that a Florida trust be in writing unless the Florida trust involves some interest in real property.
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Depending on the circumstances, a Florida trust may help avoid probate and may help avoid the need for a guardianship in the event of a person's incapacity. However, there are positive and negative aspects to the use of the various types of Florida trusts.
Florida Trust Requirements
In Florida, a person must be, either 18 years of age or older or an emancipated minor, and be of sound mind in order to make a valid trust. In addition to the age and sound mind requirements, there are essentially four additional requirements that must be complied with in order to make a Florida trust that is valid. They are as follows:
The more areas your lawyer has experience with, the better off you will likely be. No matter what type of legal concern you have, no matter what type of law, our goal will always be to help you solve your legal issues.

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3. The person that the settlor has named to hold and manage the asset(s), the trustee, has duties to perform.

4. The same person is not the sole trustee and the sole beneficiary.
A Florida trust may also be created by a person's will to hold and manage assets only after the settlor passes away. These Florida trusts are referred to as testamentary trusts.
If you live in Florida and you are thinking about having a trust prepared, you should consider consulting with a knowledgeable and experienced estate planning attorney that is familiar with the trust laws in Florida to discuss your individual situation.

If you are in the Central Florida area, call us. We will gladly be of service to you.