Types of Trusts Florida
Introduction
Overview of trusts
Trusts are legal entities that allow individuals to outline how their assets will be managed and distributed both during their lifetime and after their passing. A trust involves three main parties: the grantor (the person who creates the trust), the trustee (the person or entity responsible for managing the trust), and the beneficiaries (those who will benefit from the assets held in the trust). Trusts can be an important tool for individuals to ensure their wishes are upheld and their assets are protected.
Why it is important to consider different types of trusts
Different types of trusts serve different purposes and provide various benefits. Understanding the options available allows individuals to tailor their estate planning to their specific needs and g...