Fort Myers Irrevocable Living Trust Attorneys
With so many types of trusts available, it can be confusing and overwhelming to decide which is best for you and for the protection of your assets. The first step toward understanding your options is to learn about the characteristics and benefits of each. An experienced Fort Myers irrevocable living trust attorney from O'Halloran & O'Halloran will answer your questions and walk you through the details.
We are a Florida law firm focusing on estate planning, probate and estate administration, Medicaid planning and a wide range of other related issues. We also handle all types of family law cases. In sum, we are a firm that helps people deal with the big issues in life — future planning, actions when a loved one has died, processing through the Medicaid system and overcoming family law problems.
Why Would You Want An Irrevocable Living Trust?
Trusts survive the creator. For example, when you create a living trust and either become unable to manage your affairs or you die, the trust carries on, and your wishes will be carried out.
The difference between revocable and irrevocable lies in the power to make changes and who has that power. An irrevocable living trust creates a clear separation of ownership between the creator and the trustee. This means that a third party, the person you designate, will control the trust the entire time. By relinquishing control of the trust during your lifetime, you can:
- Protect and preserve your assets
- Avoid probate
- Maintain eligibility for benefits
- Keep the “exempt” status of property in certain situations
- Comply with state and federal rules and regulations
Southwest Florida Estate Planning Lawyers
With more than 35 years of service to the Southwest Florida area clients, O'Halloran & O'Halloran can help you create an estate plan that fits your goals.