West Palm Beach Estate Planning & Probate Attorney
At Markarian & Hayes, we can provide simple, cost effective mechanisms to accomplish your intentions upon death. If a loved one has died, we understand that the last thing you need is to be embroiled in complicated legal process. We know that you are looking for a compassionate ear and cost effective West Palm Beach probate or estate administration, contact us today.
- Wills and Trusts
- Probate Administration
- Probate Litigation
- Estate Planning
West Palm Beach Estate Planning & Probate FAQs
Can I use a will to distribute my assets over time?
Your will can only devise assets on death and cannot be used to control the disposition of your assets farther down the road. If you wish your assets to go to heirs over time, or under certain conditions, you need a trust to go along with your will.
How can I avoid probate?
There are several methods that can be employed to avoid, or minimize probate. For example, changing the title to real estate to provide for “remainder interests” allows the property to change hands outside of probate. Placing property in trust can also serve this purpose.
How much does it cost to create a trust?
Trust complexity, and therefore cost, varies from case to case based on the goals of the settlor (creator) of the trust. Simple trusts can often be done for as little as $1500.
If my trust is irrevocable, does that mean I can’t get my money?
Absolutely not. It can be set up to give your trustee the discretion to understand and take care of your needs as they arise and as they change from time to time, as well as to make distributions to you under any reasonable formula or under any criteria you establish. You cannot, however, draft the trust to give you unfettered discretion to dictate how the trust monies are distributed.
Should I use a revocable or irrevocable trust?
Revocable trusts can serve as good estate planning devices, but are useless as a creditor avoidance (asset protection) device. Irrevocable trusts can serve both purposes.