Daytona Beach Trust Attorney

Trust Lawyer in Daytona Beach, FL

When individuals begin their estate plan, knowing what steps to take can quickly become overwhelming. A Daytona Beach trust attorney has the knowledge needed to ensure legal compliance. They’ll be able to listen to your unique needs and help construct an estate plan that fits you and your loved one’s lives.

Hire a Trust Attorney That Locals Rely On

When selecting a lawyer to help plan your estate, you want a Daytona Beach estate planning lawyer with years of experience. Since 2003, the Law Office of Douglas A. Oberdorfer, P.A., has helped many Florida clients protect their estates and loved ones through detailed estate planning.

Mr. Oberdorfer values his community members’ legal rights, has experience in Florida trust laws, and works tirelessly to ensure their needs and wishes are respected. We offer consultations to Daytona Beach residents and those living in surrounding cities.

What Is a Trust?

A trust is a legal document that can be added to a person’s estate plan. An estate plan is a series of documents that detail a person’s wishes for their assets after they pass away. It can also include plans for their end-of-life medical treatment.

When a person passes away, their estate may go through the probate process, overseen by the Volusia County Courthouse, located at 125 East Orange Avenue. Between 2021 and 2022, there were 2,971 probate cases filed in Volusia County. This process can be emotionally taxing for the loved ones left behind. An easy way to avoid probate is to create a trust to hold your assets.

There are different types of trusts in Florida, each suited to your unique needs. No matter what kind you choose, you’ll want to hire a trust attorney to help you draft your trust.

Revocable Living Trust Versus Irrevocable Living Trust

There are various types of trusts. Two common types are:

1. Revocable Living Trust: To create this trust, a person places assets into it. They can place as much or as little as they’d like. These assets can be assigned a beneficiary to receive upon the person’s death. During their life, they can edit or even cancel the trust. Once they pass away, the assets automatically transfer to the beneficiary, bypassing probate altogether.
2. Irrevocable Living Trust: This type of trust is created in the same way as a revocable living trust and avoids probate after you die, but it can’t be edited or canceled once created. The assets placed into this trust legally belong to the trust. While this may not seem ideal, it can be beneficial for those who need to qualify for Medicaid.

For example, the average home value in Daytona Beach in 2023 was $315,000. If you place your home into an irrevocable living trust, that money isn’t counted as a part of your income, which can help you qualify for care.

Both types of trusts have their benefits and drawbacks. You can discuss your needs with Mr. Oberdorfer to determine which trust suits your lifestyle.

Experienced Trust Law Firm in Florida

Clients of the Law Office of Douglas A. Oberdorfer, P.A. value our team’s efficiency and empathy. Reach out to our office today to learn how we can assist you in your estate planning process. We offer consultations to residents of Daytona Beach and surrounding towns in Florida.