Trusts and Retirement plans

The bulk of wealth for many individuals is found in their retirement plans. There are specific trusts that may be utilized as the recipients of funds from 401K, IRA and other tax-deferred plans. These trusts may be drawn to provide for a second spouse and also provide for children of a first marriage. These trusts may be used to protect assets for underage beneficiaries and management of funds if unable to manage their own funds.

Revocable Trusts as a Substitute for Guardianship

Revocable trusts are a useful tool to manage assets for a person who may become disabled. Let us explain how the use of such a trust may be used to manage assets for someone who may become disabled as a substitute for a costly guardianship proceeding.

Revocable Trusts for Snowbirds

Many people from New Jersey are snowbirds who either will move to Florida or own a home in Florida. We are licensed attorneys in Florida and can explain why a revocable trust instead of a will is the preferred mode of estate disposition for Florida residents.