WILLS AND TRUSTS

Our attorneys in Miami provide legal guidance on estate planning matters, including wills, trusts, and probate. We assist clients in developing plans to help manage assets, support loved ones, and ensure their wishes are carried out in accordance with Florida law.

Crafting Your Legacy With Wills and Trusts

Wills and trusts are common tools used in estate planning, each serving different functions. A will is a legal document that specifies how an individual's assets should be distributed after death. It can include instructions regarding personal property, real estate, and other assets. Wills generally go through probate, a court-supervised process that can be time-consuming and part of the proceedings may become public.

By comparison, a trust is a legal arrangement for the management and distribution of assets during a person's lifetime and after death. Trusts typically avoid probate and may offer increased privacy and flexibility in the distribution process. For example, a trust can provide for funds to be allocated for specific purposes, such as education or healthcare, according to the terms set by the grantor.

lawyers castellon, Lauren and Schlesinger

Trusts for Unique Needs

At CLS Law Firm, we assist clients in creating estate plans that consider their individual goals and family circumstances. This may include establishing specific types of trusts, such as special needs trusts, which are intended to provide long-term financial support while maintaining eligibility for public assistance programs.

Special Needs Trusts: We assist clients in setting up special needs trusts to support beneficiaries with disabilities, designed to protect eligibility for needs-based government benefits.
Tailored Estate Planning: Our process involves evaluating the estate and beneficiaries’ individual needs to recommend appropriate planning tools, including combinations of wills and trusts.

Integrating Wills and Trusts for Complete Planning

Utilizing both wills and trusts can contribute to a comprehensive estate plan encompassing all assets. At CLS Law Firm, we help clients understand the functions of these instruments and how they can work together to support an effective and legally compliant plan.

Coordinated Use of Wills and Trusts: We assist clients in developing strategies that combine wills and trusts to address assets not titled in a trust.
Asset Coverage and Flexibility: Our attorneys provide legal guidance on structuring an estate plan to ensure all assets are included and distributed according to the client’s wishes.

Personalized Guidance for Long-Term Planning

CLS Law Firm offers legal guidance in preparing estate plans that reflect your wishes and meet your family’s circumstances. We understand that wills and trusts are important tools to help ensure that your intentions are followed.

Personalized Legal Support: We offer consultations to understand your estate, family situation, and planning objectives in order to tailor solutions accordingly.
Legacy Planning: Our legal services focus on helping manage and transfer your assets according to your instructions and aim to reduce uncertainty for your beneficiaries.

Common Questions About Wills and Trusts

Why is having a will important?

Creating a will helps outline how your assets will be distributed after your passing, allows you to appoint guardians for minor children, and states your wishes regarding arrangements such as your funeral. Without a will, decisions about these matters may be determined by state laws and courts, which might not reflect your preferences.

What happens if I change my mind about my will’s contents?

You have the ability to amend or revoke your will at any time, as long as you have the required mental capacity. These changes can be made by creating a new will, adding amendments known as codicils, or drafting a completely new document that revokes the previous one, allowing your estate plan to be updated to reflect your current situation.

Can a trust replace a will?

Although a trust allows you to manage and distribute your assets, it does not replace the need for a will. A will is important for appointing guardians for minor children and handling any assets not included in the trust. Together, a will and trust can form components of an estate plan.

What are the benefits of a living trust over a will?

Living trusts provide certain benefits compared to wills, such as maintaining privacy since they are not part of public records, potentially avoiding the probate process, and allowing for management of assets during your lifetime and after your death. However, trusts may involve more complexity and expense to establish and maintain than wills.

How often should I review my will and trust?

It's advisable to review your will and trust periodically, generally every few years, or after significant life events such as marriage, divorce, the birth of a child, or major changes in your financial situation. These reviews can help ensure your estate plan reflects your current wishes and circumstances.

What's the difference between a revocable and irrevocable trust?

A revocable trust permits you to make changes or terminate the trust during your lifetime. An irrevocable trust, on the other hand, cannot be changed after it is established. While irrevocable trusts may offer certain benefits related to asset protection and estate tax planning, they do not provide the same level of flexibility as revocable trusts.

Do I need a lawyer to create a will or trust?

While it is not legally required to hire a lawyer to draft your will or trust, doing so can help ensure that your estate planning documents comply with legal requirements, accurately reflect your wishes, and are suited to your individual circumstances.

Can I include my digital assets in my will or trust?

Yes, including digital assets—such as online accounts, social media, and digital currencies—in your will or trust can be part of your estate planning. Instructions for the handling and distribution of these assets can be included in your estate planning documents.

What should I consider when choosing an executor or trustee?

Selecting an executor or trustee involves assessing their reliability, organizational abilities, and financial understanding. It is also important to consider their willingness to serve and any potential conflicts of interest with your estate to determine if they can manage your estate or trust effectively.

Can wills and trusts be contested?

Both wills and trusts can be subject to legal challenges, typically on grounds such as undue influence, the mental capacity of the creator, or issues with how the documents were executed. Trusts may include detailed conditions and are generally private documents, which can affect how challenges are addressed.

Plan Your Legacy, Schedule a Consultation with CLS

Creating a will or trust is a step in organizing your estate and planning for the future. At CLS Law Firm, we provide legal guidance to assist in documenting your wishes and helping to manage and distribute your estate in accordance with Florida law.

Other Services Related to Estate Planing & Probate

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