Introduction to Trusts [South Florida Law Firm -- Haimo Law]
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Strategic Planning With Purpose.
Call Us at (954) 228-3369 or email info@haimolaw.com.
We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price and customer service you will not find elsewhere. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.
A trust is an incredibly valuable and versatile tool to accomplish many of your estate and business planning objectives. Basically, you create a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to administer the trust pursuant to the document's precise instructions. They must adhere to the instructions at the risk of being held personally liable. That's why trustees are called fiduciaries, because they are subject to a higher standard of care in exercising their duties. Because they are separate legal entities, they do not "die". In fact, they can last up to 360 years in Florida! Since they can own virtually any type of property, trusts ensure a smooth transition of family and/or business assets or wealth to subsequent generations while still exercising a fair amount of control over the property far beyond the time of death. Trusts are also employed in connection with estate and gift tax reduction strategies.
Where they are relevant to everyone is how helpful they are in avoiding probate and avoiding guardianship, which as you now know, can be very time consuming, expensive, not private and dangerously unpredictable. There are many types of trusts, with each having unique advantages and disadvantages. Some are excellent for simple estate planning. Others are useful for estate and gift tax planning. Still others can be used for current and deferred charitable giving.
These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: http://haimolaw.com/legal-disclaimer.
South Florida Law Firm - Haimo Law -- [Introduction to Trusts]
http://www.youtube.com/watch?feature=player_detailpage&v=tGBd1olqIe8
Strategic Planning With Purpose.
Call Us at (954) 228-3369 or email info@haimolaw.com.
We are diligent and dependable, compassionate and personable and innovative and professional. Haimo Law (HaimoLaw.com) helps you protect your family and your business's interests for the immediate and long-term future. Together, we can take advantage of incredible tools and techniques that are available to you right now. Call us for wills, trusts, probate, asset protection and business planning. Haimo Law offers premium legal representation at an affordable price and customer service you will not find elsewhere. We are reliable, approachable, honest and attentive. Helping your family and business is our priority.
A trust is an incredibly valuable and versatile tool to accomplish many of your estate and business planning objectives. Basically, you create a separate legal entity that owns and administers property for the benefit of certain beneficiaries. One or more trustees are appointed to administer the trust pursuant to the document's precise instructions. They must adhere to the instructions at the risk of being held personally liable. That's why trustees are called fiduciaries, because they are subject to a higher standard of care in exercising their duties. Because they are separate legal entities, they do not "die". In fact, they can last up to 360 years in Florida! Since they can own virtually any type of property, trusts ensure a smooth transition of family and/or business assets or wealth to subsequent generations while still exercising a fair amount of control over the property far beyond the time of death. Trusts are also employed in connection with estate and gift tax reduction strategies.
Where they are relevant to everyone is how helpful they are in avoiding probate and avoiding guardianship, which as you now know, can be very time consuming, expensive, not private and dangerously unpredictable. There are many types of trusts, with each having unique advantages and disadvantages. Some are excellent for simple estate planning. Others are useful for estate and gift tax planning. Still others can be used for current and deferred charitable giving.
These videos neither constitute legal advice nor create an attorney-client relationship between you and Haimo Law. For more information, click here: http://haimolaw.com/legal-disclaimer.
South Florida Law Firm - Haimo Law -- [Introduction to Trusts]
http://www.youtube.com/watch?feature=player_detailpage&v=tGBd1olqIe8
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