Florida Estate Planning Lawyer Blog…an IRS Article named Abusive Trust Tax Evasion Schemes – Questions and Answers The questions and answers give a good general background to many of the terms used…
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General Guidelines for Successor Trustees in Florida
The management of a revocable living trust is intended to be a simple, private, inexpensive matter handled by the Settlor and those people the Settlor chooses, without court intervention….
General Duties of a Trustee
The duties of a trustee vary depending on the laws of the state in which the trust is situated and the extent of the trustee’s powers provided for in…
Probate and Estate Terms
amount is $1.5 million. Income Beneficiary: The beneficiary of a trust who is entitled to receive the income from it. Inter Vivos Trust: A trust that takes effect while a…
Happy 18th Birthday. I got you a Florida Asset Protection Trust.
$5.45 million over their lifetime, not including the yearly exempted amounts, to a person tax-free. This means that a parent can fund a child’s trust each year while not interfering…
What is a Trust Protection and Why would I want one?
A trust can be amended it a number of ways depending on whether the trust is revocable or irrevocable. Usually, an irrevocable trust cannot be modified unless there is…
Florida Trust Structure
Beneficiaries with the trust administration. Florida Trust Statutes requires a corporate trustee when the assets of the trust are in excess of ten million dollars. There are advantages to…
How to modify an irrevocable trust in Florida
In Florida, courts are now permitted to judicially modify an irrevocable trust even when a trust is unambiguous. Historically, courts held the belief that the intent of the settlor,…
Using Quicken to prepare a trust: The good, the bad, and ugly!
…Willmaker 2009 Durable Power of Attorney. This week I will be looking a the Revocable Living Trust. I have previously written about the many problems in using Quicken to…
STATE “DECANTING” STATUTES
Seven states have enacted statutes that permit a trustee with discretion to distribute principal of a trust to exercise the discretion by transferring principal to a new trust, which…