There is no law that requires you to hire an attorney when setting up a trust. However, there are situations where having a lawyer for a trust might be in your best interest. Fischetti Law Group can review your estate planning needs for FREE and provide you with all the necessary legal guidance.

Our Boynton Beach trust attorneys can advise you of the benefits of setting up trusts as part of your estate plan. We have extensive experience with wills and trusts, creating all documents so they conform to your wishes and Florida law.

Looking for a lawyer who handles trusts? Call Fischetti Law Group at 833-645-3247 (833-MIKE-247) for a FREE 20–30 minute consultation. We serve clients throughout South Florida from our offices in Boynton Beach and Fort Pierce.

What Is a Trust, and Why Is It Important for Estate Planning?

A trust is a legal arrangement where ownership of an asset (such as a house) is transferred to a third party known as a trustee, who manages it according to the instructions of the person who set up the trust (known as a grantor or settlor). The role of the trustee is to hold and administer the assets for the benefit of the trust’s beneficiaries.

Trusts are often an integral part of estate planning, allowing you to:

• Control how assets are managed while you are alive
• Specify how assets should be distributed after death
• Protect assets from claims by creditors
• Exclude assets from the probate process, in some cases
• Limit tax liability

Types of Trusts

One of the benefits of hiring a lawyer for a trust is understanding the options available to you. Different trusts have different structures and purposes. Some of the most common types of trusts used in estate plans include:

• Revocable trusts, which can be modified while the grantor is alive
• Irrevocable trusts, which generally can’t be modified but tend to offer the most protection for assets
• Special needs trusts, which make arrangements for beneficiaries with special needs
• Charitable trusts, which set money and other assets aside for charitable organizations and causes
• Testamentary trusts, which are established as part of your last will and testament and take effect after death

What kind of trust(s) you need depends on your particular circumstances. This is one of the major reasons to consult an attorney, as they can help you balance considerations such as flexibility during your lifetime and securing your beneficiaries’ future after you pass away.

Read More: Revocable vs. Irrevocable Trusts

Can a Trust Be Set Up Without an Attorney?

For most people, the decision to hire a lawyer comes down to three simple factors: time, cost, and comfort. Many people find the process of setting up a trust on their own too time-consuming and confusing, and they are willing to pay to have a legal professional do it for them.

Those who are concerned about cost and/or feel confident in their abilities might go the DIY route. You can find sample forms online and/or sign up for services to help you create a trust.

However, it is important to note the risks a do-it-yourselfer faces when it comes to trusts:

• Mistakes: Documents for trusts need to be drafted and executed in accordance with the Florida Trust Code. Mistakes can make the trust legally invalid, subjecting assets to probate and potentially affecting distribution.
• Underestimating the complexity: Your wishes may seem straightforward, but you might find yourself quickly overwhelmed by the decisions and paperwork.
• Incomplete funding: Assets need to be transferred into a trust. One of the most common mistakes we see is people completing the trust documents but failing to complete the paperwork to transfer ownership.
• Failure to plan: Life changes such as marriage, divorce, financial difficulties, etc. can change the beneficiaries’ needs. Trust documents should be written to allow flexibility, though people who create a trust on their own often fail to do this.
• Mismanagement: Naming trustees is a serious decision. Picking the wrong person or people can result in the trust being mismanaged, leaving beneficiaries with little to nothing of what you planned for them.

Setting up a trust on your own might save money upfront, but it can be costly for your beneficiaries. Getting a lawyer for a trust is generally in your best interest. A skilled attorney can ensure that wills and trusts are legally valid, minimize the potential for disputes, and realize the many benefits of making a trust part of your estate plan.

What Type of Lawyer Is Best for Trusts?

An estate planning lawyer is the ideal choice for creating a trust. They can take a holistic view of your estate and determine whether a trust or trusts may be beneficial. An experienced lawyer for trusts will strive to understand your goals and draft all legal documents correctly.

Important qualities to look for in a Boynton Beach trust attorney include:

• Experience with estate planning and trusts
• Knowledge of Florida law and Palm Beach County courts
• Positive reviews from satisfied clients
• Clear communication
• Individualized service
• Comprehensive estate planning, including wills, trusts, Power of Attorney, and more
• Transparent fee structure
• Availability to answer your questions

Fittingly, the best lawyer for setting up a trust is a legal professional you can trust. At the initial meeting, they should ask thoughtful questions and discuss your situation in detail. This signals trustworthiness and a commitment to providing you with sound legal guidance for establishing trusts and implementing other aspects of your estate plan.

Need a Lawyer for Trusts? Fischetti Law Group Can Help!

At Fischetti Law Group, communication is the cornerstone of our firm. Clients often come to us asking about wills. We feel it is our duty to inform them of the important role trusts can play in protecting assets, streamlining their distribution, avoiding probate, reducing taxes, and limiting claims by creditors.

Contact Fischetti Law Group today for assistance with trust formation. We serve clients in Boynton Beach, Fort Pierce, West Palm Beach, Boca Raton, and other South Florida communities.

When you work with a lawyer for a trust at our firm, you can expect personalized service and transparency in everything we do. We offer FREE 20–30 minute consultations so you can get to know us, we can get to know you, and discuss how we can help. Our attorneys and staff make themselves available if you have questions or concerns about your estate plan.