Articles Posted in Estate Planning

What Happens if a Trustee Dies in Florida? By Phil Rarick, Miami Trust Attorney and Jasmine Benitez, Legal Assistant If you’re the beneficiary of a trust — or you’ve created one — and wonder what happens when a trustee passes away in Florida, you are not alone. This is a common concern, and thankfully, Florida…

Differences Between a Revocable Trust and an Irrevocable Trust By Phil Rarick, Weston Trust Attorney, and Jasmine Benitez, Legal Assistant When planning your estate, choosing the right type of trust is crucial. Two of the most common options are revocable trusts and irrevocable trusts. While revocable and irrevocable trusts serve important roles in managing and…

How Do I Choose a Trustee? By Phil Rarick, Miami Trust Attorney, and Jasmine Benitez, Legal Assistant Choosing a trustee is one of the most important decisions you will make when creating a trust.   A trust is simply legally binding instructions, and you must be confident that your trustee will follow these instructions exactly and…

What is a Florida Beneficiary’s Right to Trust Accounting? By Phil Rarick, Weston Trust Attorney, and Jasmine Benitez, Legal Assistant In Florida, qualified beneficiaries of a trust have a legal right to receive an accounting from the trustee. This accounting is a detailed report of the trust’s financial activities, including income, expenses, distributions, and the…

Can a Trustee Be Removed in Florida? By Phil Rarick, Weston Trust Attorney, and Jasmine Benitez, Legal Assistant The answer is yes – under certain circumstances, a trustee can be removed from their duties. A trustee has a high fiduciary responsibility to act in the best interest of the qualified beneficiaries, but if they fail to do…

Does a Florida Land Trust Provide Asset Protection? By Phil Rarick, Weston Trust Attorney, and Jasmine Benitez, Legal Assistant Many real estate investors wrongly believe that a Florida Land Trust can offer asset protection. While this type of trust is known for providing privacy and simplifying estate planning, they do not provide comprehensive protection from…

What is a Family Trust? By Phil Rarick, Weston Trust Attorney – Every family needs instructions in the event of disability or death. A Family Trust, also known as a Living Trust, is your detailed, legally binding instructions to care for you and your family in the event of mental incapacity or death. A trust…

3 CREATIVE WAYS FAMILY LAW ATTORNEYS CAN USE TRUSTS By: Phillip B. Rarick, Miami Trust Attorney, and Maria C. Gonzalez, B.C.C., Family Law Attorney The following note is a brief review of three popular trusts that can help ensure compliance with future financial obligations set forth in a Pre-Nuptial Agreement or Marital Settlement Agreement. Hypothetical…

Keeping Peace in The Family: 5 Common Pitfalls By Attorney Phil Rarick, Weston Estate Planning Attorney As an estate planning attorney, I sometimes witness stressful family fights that break out upon the death of a father or mother or husband and wife. On some occasions, it’s outright family warfare! What is painful is that the…

By Phil Rarick, Miami Trust Attorney Naming a minor child as a beneficiary of a will, life insurance policy, IRA, 401K, bank account or any other source of fund is almost always a substantial mistake for four reasons: Much Better Options For more information about protecting funds for your minor children, contact an attorney at…