Florida Estate Planning Lawyers often tell clients of the many advantages of a Florida trusts. When a client leaves property to heirs in a trust instead of outright, they can control how the property is used. The control can violate public policy or law, but often good estate planning can control the property without risk of having the control stricken. Some of the major advantages are:
1. That a trust can provide a mechanism for better management and investment than the individuals may be capable of on their own.
2. That a trust can prevents the beneficiary(s) from using all of the proceeds quickly, or wasting it on unnecessary items.
3. Than a trust can protect the assets from the claims of creditors.
4. That a trust creates separate property that can be free of claims of a spouse upon divorce or the beneficiary’s death.
5. That a trust allows the creator to control the disposition of the property instead of the beneficiary.
If you are interested in preserving your assets, managing their use, avoiding Florida Probate you should talk with a Florida Estate Planning Attorney about setting up a Florida Living Trust or Florida Irrevocable Trust.