Drafting a Trust In Fort Myers, Florida

Find the right Drafting a Trust attorney in Fort Myers, FL

In Fort Myers, Florida, a trust is an arrangement in which property is held by one individual (the trustee) for the benefit of another (the beneficiary).

There are various reasons why a person might set up a trust. A well-managed trust, started with a substantial amount of money, can mature into a sizable college fund for a child. Additionally, if the trust is well-drafted, the beneficiary can be restricted in how they use the money, so they don't waste it.

If you want to set up a trust, you can make the beneficiary's use of the property as restricted or as permissive as you like. As a simple instance, you might want to dictate that the beneficiary can only use the money for emergencies, or for general living expenses. If the trust is thoroughly drafted, this is completely feasible.

A trust could, of course, be much more permissive, if the creator of the trust wants it to be. You could set up a trust permitting the beneficiary to spend as much of the money in it as they like, on anything. Of course, in such a case, the trust fund might not last very long, particularly if the beneficiary is a younger person.

What to Include in Any Fort Myers, FL Trust

To formulate a trust in Fort Myers, Florida, 4 things are required. The first is purpose - the trust must be set up to serve some sort of objective, and it must be precisely stated in the document that creates the trust.

Second, the trust must further name a trustee. The trustee is the person who is really going to administer the trust, and has possession and control of the property while it is the subject of the trust.

The third element is a beneficiary. The beneficiary is a person or entity who the trust is constructed to benefit. Although a beneficiary has to be named, they don't really have to exist at the time the trust is written. For example, if a person sets up a trust to benefit his or her grandchildren, and doesn't yet have any, the trust is valid. If and when their grandchildren are born, the rights that the trust creates will vest in them immediately.

Lastly, the trust needs to have a corpus, or body. The "body" of the trust is the property that benefits the beneficiary, and that the trustee oversees. Obviously, there can be no trust without something being held in trust.

Can A Fort Myers, Florida Trust Drafting Attorney Help?

While it's not difficult to understand the basic requirements of a trust, actually creating a trust can be a bit more intricate. Therefore, it is advisable to contact a seasoned Fort Myers, Florida attorney to help you set up a trust.

Talk to a Wills, Trusts and Estates Law Attorney now!

Life in Fort Myers

Fort Myers is one of the two cities that makes up the Cape Coral-Fort Myers Metropolitan Area in Florida. Fort Myers is home to about 618,754 people. It is known for being a "gateway" into Southwest Florida, an area comprised of the cities tourists mostly visit.

Some popular attractions in Fort Myers includes the Art of the Olympians, Edison and Ford Winter Estates, Murphy-Burroughs House, Edison Mall, and the Calusa Nature Center and Planetarium. Fort Myers is also home to the training facility for the Red Sox!

Fort Myers is filled with many small law offices and firms specializing in all areas of law, and ready to serve the community. The legal force in Fort Myers is quiet capable of handling the legal needs of residents.

All in all, Fort Myers is a quaint city in Florida. It may not have the stretch of beaches that Florida is known for, but it definitely is a city with some small town charm!

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