Setting Up a Trust in Coral Gables

You may have reached a point where you are thinking seriously about how your assets will be handled after your death or incapacitation. Creating a trust could be the step that helps you move forward with confidence.

At Veliz & Associates, P.A., we assist individuals and families with setting up a trust in Coral Gables and elsewhere in Florida as part of a broader strategy to protect and preserve what they have built. Our experienced trusts attorneys understand how to create trust-based planning that reflects Florida law and personal priorities.

What Can a Trust Do That a Will Cannot?

A trust is a legal tool that allows you (the grantor) to transfer control of certain assets to a trustee. That trustee, whether an individual or an institution, manages those assets according to instructions you provide. When you set up your trust in Coral Gables, it usually goes into effect right away and continues functioning if you become incapacitated or pass away—without the delays and exposure that comes with probate.

Unlike a Will, which only becomes active after death and typically goes through a court process, a trust is more private and can be more flexible. It can hold real estate, business interests, investment accounts, and other assets. You decide how the assets will be distributed and under what conditions.

A trust-based strategy allows for more control. You might decide, for example, that a beneficiary receives partial distributions over time or that assets remain in the trust for long-term oversight.

Different Trusts for Different Goals

There is no single type of trust that fits everyone. A revocable trust is one that you can change while you are living, providing flexibility. Many people choose this type of trust to manage assets during life and transfer them efficiently later.

An irrevocable trust, on the other hand, typically cannot be changed once it is created. However, it offers different protections. It may help reduce exposure to estate taxes or protect assets from creditors in some situations. Other types of trusts may serve charitable purposes, keep life insurance outside your taxable estate, or support business succession.

Some individuals include conditions that delay or limit distributions, such as requiring that a beneficiary reach a certain age or milestone before receiving anything. These terms can help ensure that you use your assets wisely. You should discuss any potential terms with a Coral Gables attorney when setting up your trust.

Discuss Options With Setting Up Your Trust With a Coral Gables Attorney

If you are thinking about setting up a trust in Coral Gables or anywhere in Florida, it is worth speaking with someone who understands the legal structure and how it fits within your unique estate situation.

At Veliz & Associates, P.A., we help clients design trusts that protect what matters. Whether you are looking to avoid probate, support a business transfer, or ensure a lasting legacy for your family, we are here to help. Contact our office today to begin a discussion about what trust structure may be right for you.