Existing user? Sign in
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
In Palm Beach Gardens, Florida, trusts are governed by the Florida Trust Code, which sets the rules for creating, administering and terminating trusts. The primary statute for trusts is Florida Statutes Chapter 736, which covers duties of trustees, powers, beneficiary rights and trust modification. Understanding these provisions helps residents protect assets, plan for incapacity and minimize probate when appropriate.
Florida allows several types of trusts, including revocable living trusts, irrevocable trusts and testamentary trusts. These instruments enable you to control asset distribution, preserve privacy and tailor distributions to family needs or charitable goals. A local attorney can help you choose the right structure and ensure it aligns with your overall estate plan.
Because Palm Beach Gardens sits within Palm Beach County, local probate administration often interacts with county court procedures. A qualified attorney familiar with Florida law can coordinate trust drafting with real estate, tax, and Medicaid planning considerations. See Florida’s official statutes for the governing framework: Florida Statutes Chapter 736.
Florida Trust Code, Chapter 736 governs the creation, administration, modification and termination of trusts in Florida, including trustee powers and beneficiary rights. The statute reflects Florida’s approach to modern trust planning and fiduciary duties. For details, see the official Florida Legislature page: Florida Statutes Chapter 736.
Florida Probate Code and Probate Rules address probate administration, will validity and related court procedures in Florida. While trusts can avoid probate, some assets or issues still pass through probate, and overall accuracy requires attention to these rules. See Florida Statutes Chapters 731-735 and the Florida Rules of Probate Procedure for authoritative guidance: Probate Code and Rules.
Medicaid planning and asset protection considerations in Florida may involve trusts as part of a broader strategy. Florida law interacts with federal Medicaid guidelines, so counsel experienced in elder law and estate planning is essential for compliant, effective planning. For state practice context, consult Florida Bar RPPTL resources and relevant county resources before implementing any Medicaid-related trust planning.
A revocable living trust is created during your lifetime and can be changed or revoked. It helps avoid probate and allows you to name a successor trustee to manage assets after incapacity or death. Florida law governs the trust's validity and trustee duties, with flexible control retained by the grantor.
Begin by listing all assets, selecting a trusted trustee, and choosing beneficiaries. A local attorney drafts the trust document to meet Florida requirements, coordinates funding of the trust, and ensures alignment with your overall estate plan.
Legal fees for a simple revocable trust generally range from roughly $1,500 to $4,000, plus costs for funding and deed preparation. More complex estates with real estate or business interests may exceed $5,000.
For a straightforward trust, initial drafting and funding commonly take 2-6 weeks. Complex asset mixes or real estate transfers can extend to 6-12 weeks, depending on documents and title work.
Yes. Florida law requires compliance with trust creation formalities and state tax considerations. An experienced attorney reduces risks and helps tailor the trust to your goals.
Yes, most Florida trusts are amendable unless the trust document states otherwise. An attorney can guide you through the amendment process and ensure validity.
A spendthrift clause protects trust assets from creditors and limits beneficiary distribution rights. Florida recognizes many spendthrift provisions, but enforcement depends on the trust terms and state law.
A corporate trustee offers professional management and continuity. However, costs are higher; many families in Palm Beach Gardens use a hybrid approach combining a professional trustee with a trusted family member.
Funding requires transferring title by deed and recording it in the county records. An attorney coordinates the transfer to ensure the property remains properly titled to the trust.
Common documents include the trust instrument, a funding plan, beneficiary designations, source of funds, and a durable power of attorney or health care directive for incapacity planning.
A will passes assets through probate, while a trust can transfer assets privately and may avoid probate. Trusts also offer more control over distributions and can address incapacity planning.
Florida has no state estate or income tax on trusts, but federal tax rules apply. Trust income is taxed at rates set by federal law, and distributions to beneficiaries may carry tax consequences.
Lawzana helps you find the best lawyers and law firms in Palm Beach Gardens through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Trusts, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
Get a quote from top-rated law firms in Palm Beach Gardens, United States — quickly, securely, and without unnecessary hassle.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.
