Drafting a Trust In Naples, Florida

Find the right Drafting a Trust attorney in Naples, FL

In Naples, 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.

Because you, as the trustee, can decide the rules under which the trust operates, you could give the beneficiary the right to access the fund at any time, for any reason, effectively letting them do whatever they want with the money, if that's what you want to do.

What to Include in Any Naples, FL Trust

There are 4 distinct elements that must be present for any trust to be legitimate in Naples, Florida. The first element is the purpose - in drafting a trust document, the purpose that the trust is serving must be articulated.

The second required element is a trustee. The trustee's job is to supervise and manage the money that makes up the trust. They are also required to take reasonable efforts to guarantee that the money is only utilized for the purpose of the original trust agreement.

The third element is a beneficiary. The beneficiary is a person or entity who the trust is designed to benefit. Although a beneficiary has to be named, they don't actually 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, and perhaps most especially, the trust requires a "body." The body of a trust is the thing (usually, but not always, money) that is actually being held in trust, and therefore overseen by the trustee, and utilized to help the beneficiary.

Can A Naples, Florida Trust Drafting Attorney Help?

While the elements of a valid trust are fairly simple and easy to remember, drafting a trust that is sure to be carried out according to the wishes of the person making it can still be complicated. For that reason, a good Naples, Florida attorney experienced in estate planning and the drafting trusts may prove invaluable.

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

Life in Naples

Naples may remind some of Europe, however Naples is also a city in Collier County, Florida. It is a very small city, with a population of about 21,650 people.

The economy largely thrives off of tourism. Naples is a popular vacation spot because it is known as "the Paradise Coast." Alongside tourism, the largest employer is the Fortune 1000 company Health Management Associates. Other top employers include Arthrex and INgage Networks. With such a variety of employers, Naples residents are able to sufficiently provide for themselves. In fact, Napes was ranked amongst the tenth priciest cities.

Popular attractions include the Everglades National Park, Florida Panther National Wildlife Refuge, Picayune Strand Forest, and Corkscrew Swamp Sanctuary.

Naples is also filled with many small law offices. Attorneys focus on providing personalized legal services, and are very capable of providing their clients with excellent legal services.

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