Living Trusts
Living Trusts are a legal document that, just like Last Wills & Testaments, outline how your assets are to be distributed after your death. The trust is created now, while you are alive, hence the name Living Trust. In addition, since it is a revocable trust, the terms of the trust can be changed at any time throughout your lifetime, as situations in your life may dictate.
Living Trusts should be drafted by a qualified elder law attorney as part of a comprehensive estate plan. Because the trust dictates what will happen if you pass or become ill, using generic do-it-yourself forms is not advisable.
At Jacobs & Jacobs Law, we customize each estate plan to fit your specific goals and objectives. Contact Jacobs & Jacobs Law, conveniently located in Florida, today to ensure your Living Trust is legally sound, personalized, and designed to protect your future.
Benefits of Living Trusts
As the Trustee of your Living Trust, you retain full control over your assets, just as before—you can buy, sell, trade, or give them away, and your tax filings remain unchanged. The only difference is that asset titles are in the trust’s name. A Living Trust names a Successor Trustee who takes over in case of incapacity or death, ensuring seamless management. Unlike a Last Will & Testament, which only takes effect after death, a Living Trust provides immediate protection if you become incapacitated, avoiding costly guardianship proceedings. One of its greatest benefits is probate avoidance, allowing assets to pass directly to beneficiaries without court involvement, even across state lines, preventing multiple probate proceedings. Additionally, it can include directives to keep you in your home with in-home care, promoting better long-term well-being. Given its flexibility and efficiency, a Revocable Living Trust is widely considered the preferred estate planning tool.
Privacy is another major benefit of Living Trusts. Unlike a Last Will & Testament, which becomes a matter of public record once probated, a Living Trust remains private. Only those you choose to share it with will have access to its contents, shielding your heirs from unsolicited solicitations or potential disputes from disgruntled family members. For married couples with a taxable estate, the Living Trust also offers tax advantages. By utilizing a Credit Shelter Trust, sometimes called an A-B Trust or Bypass Trust, couples can pass both of their estate tax exemptions tax-free to their beneficiaries. Since federal estate tax rates start at 45%, the use of Credit Shelter Trusts can significantly increase the amount of wealth passed on to heirs.
They treated me like family. Very patient and thorough attorneys.
Outstanding service. They explained everything so I understand.
They were very well prepared and explained everything in an understandable manner. I was very satisfied with the will and other paperwork they did for me.
I looked around and interviewed multiple attorneys, this firm was head & shoulders above the rest.
My experience with Melinda has been 100% positive. She is knowledgeable and friendly. She answered and explained very patiently all of my questions. The whole process was easy, simple, and fast! The secretary was kind, and conveyed all of my concerns to Melinda with accuracy, and took good care of me both over the phone, and in person. I cannot say enough good things about their services.
I am an attorney specializing in complex real estate transactions for the past 34 years. But when it came time to select an attorney to create a revocable living trust, I chose this law firm to assist me. They did an excellent job! Enough said!
My experience with Melinda has been 100% positive. She is knowledgeable and friendly. She answered and explained very patiently all of my questions. The whole process was easy, simple, and fast! The secretary was kind, and conveyed all of my concerns to Melinda with accuracy, and took good care of me both over the phone, and in person.
I was looking to obtain a will/trust and scheduled an appointment with Jacobs & Jacobs. I first met with Melinda where she explained in fine detail what was required to fulfill what I was requesting. Upon receiving a draft copy of all documents I then scheduled another appointment to finalize the agreement and met with Daryl. Both are very experienced and well versed in their profession.
Having moved from Massachusetts recently, I knew my Living Trust needed to be updated under Florida law. Jacobs & Jacobs made the process very understandable and affordable.
They made the process so easy and understandable for our family during a very difficult time. I highly recommend this law firm.
I was treated like family. From the receptionist who made my appointment (which was difficult due to my work schedule), to the lawyer who assisted with my estate plan.
My husband & I needed to update our NY last wills after relocating to Florida recently. After interviewing a number of lawyers we found this husband & wife team to be easy to work with & very professional. Their “special couples package” was exactly what we were looking for!
Our team is ready to assist with any estate planning you may need. Whether it’s drafting a will, navigating probate, or handling complex tax matters, Jacobs & Jacobs Law has the experience and compassion to guide you every step of the way. Don’t wait—reach out today and let us provide the legal help you deserve.
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