Estate Lawyer Melbourne, FL
The Benefits of Writing a Trust
Every person at one point or another in their lives has to consider writing a trust. An estate lawyer in Melbourne, FL, such as one from the Law Offices of Arcadier, Biggie & Wood, has helped people just like yourself, who want to pass their wealth and wishes on to future generations. Those who fail to ever create a trust may be committing a crucial mistake, as without one, the court will have a say in how and to whom assets are distributed. Most people don’t want the government having any say in how their legacy is passed on. If you need help establishing a trust for the first time or making changes to a current draft, then here at the Law Offices of Arcadier, Biggie & Wood we can surely offer guidance! Consider calling an estate planning lawyer in Melbourne, FL now.
Here are a couple reasons why it’s immensely beneficial to your current life, future, and family to create a trust:
Passing Wealth Quickly and Privately to Loved Ones
The biggest way that having a trust is an effect tool for your future, is that it ensures your loved ones receive assets in a timely fashion. If assets are given to beneficiaries with a will instead of a trust, the estate may be settled through a process called probate, which is held in state courts and is public. If your estate goes through probate after your passing, your family may have to deal with:
- Probate process can get delayed. Probate may take several months to finalize, depending on how complicated and valued the estate is. During a period of grief, the last thing you’re family will want to have to do is wait as a legal proceeding involving your legacy is delayed over weeks and weeks.
- Probate can get costly. The costs for probate can be significant, especially if there is a conflict or dispute between beneficiaries about who is awarded what assets and for how much.
- Private information shared to the public. During such a sensitive time, your family probably doesn’t want private information about your life and estate to be accessed by the public. When a will is admitted to probate, it automatically becomes public record. This means anyone who wants to review it can do so.
Assets Can Be Preserved for Charities
If you are someone with substantial assets, you may feel inclined to give a percentage of your estate to a favorite charity. If you want to safeguard your assets to be distributed to a charity after you pass on, then an estate lawyer in Melbourne, FL may suggest creating an irrevocable trust. This means that the trust cannot be changed as the years go by. So, we just recommend making sure that what you write into the irrevocable trust are terms that you don’t expect needing to update as life goes on. If you have questions about this type of trust, please call the Law Offices of Arcadier, Biggie & Wood to speak with an estate lawyer Melbourne, Florida residents have trusted for years.
Talk with an Estate Lawyer in Melbourne, FL Now
We understand that writing a trust can be a unique experience, because you are planning for a time after you have passed, while still living. A Melbourne, FL estate lawyer is happy to walk you through the steps, so all you have to do is call today to reserve your free consultation! Call the Law Offices of Arcadier, Biggie & Wood, PLLC today.