A will serves the purpose of carrying out your wishes regarding distribution of your assets after death. By discussing your estate planning objectives, answering your questions and gaining an understanding of your finances, attorney, Steven K. Schwartz, can draft a will that meets the needs of your estate. Law Office of Steven K. Schwartz will ensure that your will is signed properly with two witnesses and notarization to ensure validity. If you have a trust, a pour-over-will may be used in conjunction with the trust to make certain all assets not transferred to the trust are covered.
Trusts
A trust is a legal agreement formed where a grantor gives assets to one person called a trustee, who holds assets or property for another person’s benefit. The trust document specifies the obligation to keep or use the property for that other person’s benefit. The trust stipulates the powers and duties of the trustee and is designed for financial, personal or tax objectives. The duties of a trustee usually include investment, keeping assets safe and distribution of assets to beneficiaries based on provisions of the trust.
Some common reasons for trusts include:
- Management of assets for beneficiaries who are too young or irresponsible to manage their inheritance.
- Management of assets for someone who has become incapacitated due to old age or catastrophic injury.
- To pass assets to beneficiaries without having to go through probate.
- To shelter estates of high net worth from federal estate taxes.
- To avoid unnecessary probate expenses for real estate owned in several different states.
There are many different types of trusts. Based on your financial needs, our attorney, Steven K. Schwartz, will explain the differences in trusts and discuss the advantages and disadvantages of various types. In general, he will assist you in making an informed decision about whether a trust would serve your financial objectives.
Arrange a Consultation
Located in Aventura, Florida, wills and probate attorney Steven K. Schwartz, P.A. serves clients throughout West Plam Beach and Boca Raton and in cities throughout Palm Beach County and nationwide. Our firm looks forward to answering your questions and explaining any legal issues that may concern you regarding wills and trusts. Please email or contact our office at (305) 936-8844 to arrange a consultation.
