Using Trusts Strategically For More Than 50 Years
At MacLean and Ema, P.A., we have spent more than five decades helping people in Pompano Beach and the Gold Coast establish legally sound trusts that pass their assets successfully to the right beneficiary. We care about creating trusts and other estate planning documents that do what is right for you and your family. To us, you are more than a client – you are a member of our community who deserves wide guidance when it comes to trusts.
What A Trust Can Do
Trusts are a type of financial arrangement. A person called a grantor puts certain assets intended for a beneficiary into a trust. Third parties called trustees manage the trust for the sake of the beneficiary. You can use a trust for many purposes. Among the most common are passing assets to a relative, minimizing taxes, avoiding probate, donating to charity and taking care of your spouse if you pass away.
Types Of Trusts
There are multiple varieties of trusts, all of which serve a specific function. You could consider some of the following for your estate plan:
- Revocable living trusts, which you can modify during your lifetime
- Asset protection trusts to shield your assets from taxes and creditors
- Special needs trusts that fund the care of someone who has special needs.
- Charitable trusts to use your assets or property for a charitable cause
These are merely a few trust options; we can help you explore the full spectrum of trusts available to you.
Who Needs A Trust?
One of the biggest misconceptions about trusts is that they are for only the extremely wealthy. On the contrary, anyone can establish a trust. Life is never certain; far too many people have suffered an accident or illness that left them incapacitated and unable to manage their finances on their own. With a trust, however, you can feel assured that the court and your loved ones will handle your assets according to the terms you set forth.
Ask More About How To Use Trusts
Our lawyers are always happy to sit down with you and discuss how best to incorporate trusts into your estate plan. To reach out to us for an initial consultation, please call 954-824-2370 or send us an email today.