Estate Planning: A Trust May Be Used in Addition to a Will

wills and trusts in estate planningWhen estate planning, realize that a trust can handle only the property that has been put into it. Any property of a person that is not placed in the trust either during life or at death in most instances escapes the control of the trust. It is the will that controls all property in a decedent’s name at the time of death if the will is drafted properly. Trusts canBaskinFleece prides itself on its unique ability to handle all aspects of wills and trusts, including estate planning. Estate planning and private wealth transfer may sometimes involve complex tax planning, requiring the assistance of skilled and knowledgeable legal counsel. be helpful to speed administration and save taxes if they are drafted properly in estate planning and funded during life with the property intended to be transferred by the trust. Often, however, improperly drafted or incorrectly funded or administered trusts can add to the cost of settling estates, not lower it. Furthermore, it is the probate of the will that can clear creditors’ claims, which is not possible with just a trust administration.

For help or answers to will and estate related questions, you can contact BaskinFleece at 727.572.4545.

Most of the content of the information above is courtesy of The Florida Bar and represents general legal advice. Because the law is continually changing, some provisions in this blog may be out of date. It is always best to consult an attorney about your legal rights and responsibilities in your particular case.

One thought on “Estate Planning: A Trust May Be Used in Addition to a Will

  1. Pingback: Wills, Trusts and Estate Planning in Clearwater, St. Petersburg, Tampa and Throughout Florida | BaskinFleece

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