Trust Creation, Modification & Termination

Individuals often create irrevocable trusts to accomplish their estate and tax planning goals.  There are many reasons to establish trusts for your beneficiaries, including providing a vehicle for the long-term management of wealth, enabling tax planning opportunities, providing protection from creditors, and preserving assets for future generations.  We take pride in our ability to create highly customized trusts tailored to each client’s wealth management goals.  Further, we often build flexibility into our trust agreements to allow the trust to appropriately adapt to changes in circumstances and the law.  

As circumstances change, a trust may no longer meet the creator’s objectives.  Fortunately, there are a number of ways to modify a trust under Florida law.  We often represent individuals and institutions in modifying trusts which hold significant assets yet no longer function as intended.  Our services include determining whether a trust modification is appropriate and permitted, effectuating the modification, and addressing the relevant estate, gift, generation-skipping transfer tax, and income tax issues in connection with the modification.