A Trust is broadly defined as setting up a form of transferring property or assets while you are still living, which remains in effect in the event of your passing. A Trust can be an important tool in estate planning which may keep part, or all of your estate out of probate in the event of your passing.

A Trust may be in affect while you or living, or commence at the time of your passing.

A Trust is often the best method to provide for the needs of a beneficiary who will need continuing supervision due to age, disability, other special needs, or lack of financial sophistication.

When a Trust is set up, a Trustee must bee appointed to Administor the Trust. If you so choose, you may be the Administor of the Trust. However, if you do this, it is always wise to specify an alternative Trustee to ensure the Trust is protected in the event of your passing.

If you require the legal advice and representation regarding Trusts and estate law issues, make sure your legal rights are protected by seeking the legal advice of an experienced Lakeland trust attorney & lawyer. Contact the Law Offices of Peter R. Mayer at (863) 644-1749 to schedule a confidential legal consultation.

There are two kinds of Inter Vivos Trusts: Revocable and Irrevocable.

Revocable Trust: often referred to as "living" trusts, the donor maintains complete control over the trust and may amend, revoke or terminate the trust at any time.
Irrevocable Trust: cannot be changed or amended by the donor. Any property placed into the trust may only be distributed by the trustee as provided for in the trust document itself. Irrevocable trusts are most often used by high net worth clients in a effort to reduce their taxable estate while still maintaining some control over the assets.

Testamentary Trust: is created by a will, and it does not come into existence until your passing. Such a trust has no power or effect until the will of the donor is probated. A testamentary trust will not avoid the need for probate and will become a public document, as it is a part of the will.

Supplemental Needs Trust: is used to enable the donor to provide for the continuing care of a disabled spouse, child, relative or friend. The beneficiary of a specially-drafted supplemental needs trust will have access to the trust assets for purposes other than those provided by public benefits programs. In this way, the beneficiary will not lose eligibility for benefits such as Supplemental Security Income, Medicaid and low-income housing. A supplemental needs trust can be created by the donor during life or be part of a will.

Credit Shelter Trust: is a way to take advantage of the estate tax exemptions. The amount that may be sheltered has changed considerably over the past decade and is expected to continue changing into the future. For this reason, is you already have a trust, it is wise to review the provisions with an attorney at least once every several years.

As a law firm providing experienced trust attorney & lawyer legal services, assisting Lakeland, Winter Haven, Bartow, and Polk County Florida residents with trusts, trust administration, trust litigation, and other estate law issues, we are committed to protecting the legal rights of each and every client, while always striving to provide the highest standard of legal representation.

Potential Trust Litigation issues may include, but are not limited to:

Undue influence: When a person successfully persuades a person to make decisions regarding the development of a trust, which either directly benefits the person who provides the undue influence, or adversely affects others as a result of the undue influence.

Lack of mental capacity: when an individual who has set up a trust has their mental capacity disputed relating to the trust and estate decisions outlined the trust.

Trustee Malfeasance: When an appointed trustee fails to adequately adhere to their prescribed duties, according the law. The trustee may be personally held liable for trustee malfeasance, and in some cases, may even be held criminally liable.

Trust fund distribution disputes: typically exist between family members in which one or more family member is either left out of a trust, or they believe they did not receive a fair share of trust assets.

Trust Entitlement Petitions: When an individual or individuals believe they have a solid foundation to dispute the validity of a trust, which the believe they have a legal right to be included.

Property Recovery: Estate, trust or probate legal actions are sometimes necessary to recover property on behalf of a trust taken in violation of the terms of the trust. Typically, legal action is taken in this manner due to trustee malfeasance.

Breach of Trust Duties: When an appointed trustee fails to adequately adhere to their prescribed duties, according the law, or does not act in the best interest of the beneficiary, the Trustee may be legally removed as the Trustee, held personably liable for trustee malfeasance, and in some cases, may even be held criminally liable.

The Law Offices of Peter R. Mayer professionally represents the legal rights of those involved in trusts, trust administration, trust litigation, or other estate law issues in Lakeland, Winter Haven, Bartow, and the Polk County Florida area.

If you have questions or concerns regarding Trusts or other Estate Law issues, make sure your legal rights are protected by seeking the legal advice of an experienced Lakeland Trust Attorney & Lawyer. Contact the Law Offices of Peter R. Mayer today by calling (863) 644-1749.

Lakeland Trusts Attorney and Lawyer, providing professional Trust Creation, Trust Administration, Trust Litigation, and Estate Planning Legal Services in Lakeland, Winter Haven, Bartow, and Polk County Florida.

Home • Peter R Mayer • Contact Us • Marital and Family Law • Divorce • Family Law Mediation • Marital Agreements • Child Support • Child Custody / Visitation • Child Paternity • Adoption • Post Judgment Modifications • Spousal Support / Alimony • Estate Planning • Elder Law • Estate Administration • Probate • Last Will and Testament • Living Will • Guardianships • Trusts • Power of Attorney • Personal Injury • Auto Accident • Auto Accident • Wrongful Death • Motorcycle Accident • Brain Injuries • Slip and Fall Injuries • Defective Product Liability • Dog Bite Liability • Nursing Home Abuse / Neglect • Pedestrian Accidents • Commercial Truck Accident •