Drafting a Trust In Kissimmee, Florida

Find the right Drafting a Trust attorney in Kissimmee, FL

In Kissimmee, 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. Furthermore, 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 are a trustee, you can allow the beneficiary to access the trust under any conditions you see fit (or make it unconditional, if you want). The point is that, if you make sure the trust agreement is well-constructed, you can help the beneficiary in any way you like, secure in the knowledge that they won't be able (or will find it very challenging) to spend it on things you don't approve of.

Of course, the trust could also be set up to allow the beneficiary unfettered access to the fund, or a certain amount of money could be released from the fund to the beneficiary each month, for the beneficiary to use as he or she sees fit.

What to Include in Any Kissimmee, FL Trust

There are 4 things that have to be present in every trust for it to be legitimate in Kissimmee, Florida. First, the trust must have a stated purpose. Whatever purpose you intend the trust to serve, you should make it very clear when drafting the document.

Second, the trust needs a trustee. The trustee will have possession of the property or money that is being held in trust, and will be accountable for putting it to the use that the creator of the trust intended.

Third, there must be a named beneficiary. This is the person, persons, or entity who is actually benefiting from the trust. This person or entity must be precisely identified, or must be identifiable at some point in the future that can be objectively defined.

Finally, the trust needs to actually be composed of something. A trust document must name the money or property which is actually being held in trust, which is known as the "corpus" or "body" of the trust.

Can A Kissimmee, Florida Trust Drafting Attorney Help?

While it's fairly easy to list off the basic requirements for a valid trust, actually creating and implementing one can be fairly complicated. Therefore, you should probably seek the guidance of a Kissimmee, Florida attorney if you wish to set up a trust.

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Life in Kissimmee

Kissimmee is in Osceola County, Florida. Specifically, it is located northwest of Lake Tohopekaliga, alongside the Kissimmee River. It is knwon as one of central Florida's most charming small cities. Approximately 60,000 people call Kissimmee home.

Some popular attractions is Kissimmee include the Colonial Estate, the Kissimmee Historic District, Monument of States, Osceola Center for the Arts, and Osceola County Historical Society Museum.

Some famous residents of Kissimme are William J. Sears, Brett Williams, Bobby Sippio, Kissy Simmons, John Quinones, Tito Paul, A.J. McLean, Brent Fullwood, Tonga Fifita, and Buddy Dyer.

Kissimmee is also filled with small law offices and firms that train excellent attorneys. These attorneys practice in all areas of law. Therefore, Kissimmee residents should remain assured that any and all of their legal needs will be met by the competent legal force of Kissimmee.

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