Palm Beach ● Jupiter Florida Trusts Attorney

Trusts can serve a number of different purposes when planning an estate. A trust can exempt certain kinds of assets from taxation and Medicaid eligibility calculations while allocating funds for health care needs, the education of children or grandchildren, or the support of charities and public causes. At the law office of Craig F. Snyder, we work closely with clients in creating trusts tailored-made to meet their unique estate planning needs. When necessary, our lawyer consults tax experts, CPAs and financial planners in determining how best to structure a trust to stand the test of time. In this regard, Mr. Snyder discusses the pros and cons of using either a corporate or family trustee, explaining the fiduciary duties of both. As your attorney, Craig F. Snyder develops checks and balances that mitigate the possibility of financial mismanagement while creating greater transparency for monitoring the administration of a trust. In planning for health care needs, we explain the Medicaid 5 year look-back penalty in order to help our clients avoid having to spend down their assets and sell their home.

Trusts are powerful estate planning tools that can help you secure your loved ones' financial security. To schedule an appointment and discuss how we can help you, contact trusts attorney Craig F. Snyder today.

Estate Planning and Trusts

The law office of Craig F. Snyder advises and represents clients in regard to the following kinds of trusts:

• Special Needs Trusts: A special needs trust allows people to set aside money for the health care needs of a disabled child, spouse or elderly parent. Since Medicare does not pay for long-term health care needs or nursing home care, establishing a special needs trust is an effective means for protecting assets while qualifying for state and federal medical benefits.


• Revocable Living Trusts: When people transfer ownership of property to revocable living trust, they retain control over the trust and its assets during their lifetime; control then passes to named beneficiaries after their death. Revocable living trusts are especially useful as a tool for avoiding probate.


• Irrevocable Living Trusts: Unlike revocable living trusts, irrevocable trusts cannot be altered or changed by the grantor. Irrevocable living trusts offers certain distinct tax advantages, but at the expense of control over the trust assets.


• Testamentary Trusts: Unlike other types of trust - including living trusts - testamentary trusts do not take effect until the death of the grantor. Testamentary trusts are commonly created through explicit instructions in a will.


• Charitable Remainder Trusts: Charitable remainder trusts generally have two beneficiaries: the person creating the trust and a charity. During the grantor's lifetime, he or she receives a percentage of the income from the trust. Upon death, the remainder goes to the charity.

Need Additional Information? Contact Craig F. Snyder Today

There are tax issues and legal concerns that must be addressed when establishing a trust. As your attorney, Mr. Snyder discusses these with you, making sure you have the information you need to determine what is in your best interest. If you would like more information regarding trusts and how we can help you, contact estate planning lawyer Craig F. Snyder today.