Fort Walton Beach Trust Attorney
Leveraging 25+ Years of Legal Experience in Trust and Estate Planning in Okaloosa County
A trust is a powerful legal arrangement where a settler entrusts another party, the trustee, with the authority to manage, oversee, and allocate their property and assets to beneficiaries. This ensures that the trust functions according to the grantor's wishes. Unlike a will, a trust offers the unique advantage of being operational during the trust creator's lifetime, making it an indispensable tool in estate planning. The value of professional guidance from a trust attorney in navigating these complex legal waters is immeasurable. With John Dowd and the team at Dowd Law Firm, clients gain access to more than a quarter-century of legal knowledge. Our firm is dedicated to delivering robust and dependable asset planning services to individuals and families across Okaloosa County.
Contact us at (850) 972-2233 or send a message online to schedule a consultation with our Fort Walton Beach and Destin trust attorney.
What is a Trust?
A Trust serves as a protective measure for the trustee, functioning as a legal avenue that allows someone else to make decisions on your behalf in case you become incapacitated. Primarily, it holds assets for you and your beneficiaries. Settlers will need to designate at least one beneficiary apart from themselves. The trust document must also be written, as oral trusts are not recognized as valid. Any required deeds for assets such as homes and automobiles must be duly signed.
Like wills, trusts must be properly established and operated under Florida law. Trusts can be categorized in various ways based on their unique characteristics and purposes. Some of the common types include:
- Living Trusts: As implied by the name, these trusts are established while you are still alive, alternatively referred to as inter vivos trusts.
- Testamentary Trusts: These trusts are created through a will and undergo probate. They typically come into existence after the death of the settlor.
- Revocable Trusts: These trusts offer flexibility as they can be canceled or modified at the settlor's request at any time for any reason.
- Irrevocable Trusts: Unlike revocable trusts, these cannot be canceled or altered for any reason until the trust terms have been fulfilled.
- Spendthrift Trusts: This type of trust can be either a living or testamentary one. It protects by preventing beneficiaries and creditors from accessing the trust's assets directly.
Understanding the nuances and legalities of each trust type is crucial for effective estate planning. By carefully selecting the right trust for your situation, you can ensure that your assets are managed according to your wishes, providing peace of mind for you and security for your beneficiaries.
Our Testimonials
-
The Dowd Law firm is an excellent law firm. The attorneys and firm have a long a history of quality representation in the Panhandle (Fort Walton Beach) and the surrounding areas. The attorneys are professional, consistent, and conscientious. If you want an attorney with a strong work ethic and family values, you should contact the Dowd Law Firm.- D.W.
-
Made the decision to go with this firm due to their very nice staff. Estate Planning and Real Estate can be really complicated but they were so knowledgeable and explained things really well. The ladies who took my call were so sweet and helpful and I am so glad I chose this firm!- Tony G.
-
John, I know it's taken about a year, but I can't tell you how happy and relieved I am!!!!! You have accomplished a major victory!!!! Thank you for taking care of me, once again. It seems like every time I hit a crises in my life, I have been able to call you and you take care of me. Michelle has been so helpful and understanding. She kept on top of Bayview and made sure they followed through.- Judy
-
I contacted the Dowd Law Firm for legal assistance,. They were informative, knowledgeable, discussed all my options, and very helpful in the outcome of my case. They stayed in constant contact and very informative. They were very kind and took the time to explain any issues or concerns. I would refer them to any of my friends and family.- Jodie W.
-
Angie and Brittany were so kind and helpful on the phone. Calling a law firm can always be a little nerve wrecking especially if it’s your first time but they made me feel so comfortable. Mr. Dowd is so knowledgeable in probate and real estate that I would not recommend anyone else other than him on the Emerald Coast. Just overall the best staff!!- Jessica G.
-
I have worked for a local Real Estate Company for 12 years and have needed the assistance of an attorney periodically. I have recently started using the Dowd Firm. Their professionalism and dedication are unsurpassed. I without reservation recommend this firm. You won't find a better staff and attorney's to work with.- S.M.
-
Dear Jake, Thank you so much for your outstanding skill at convincing people to follow the laws of their contractual agreements. We tried for years as you know to no avail. Whatever you said to the Parises enabled the sale of our lot to close on time. That is all AJ and I wanted for Christmas, to be rid of that mortgage. We are extremely grateful to you and your team. We will definitely recommend you to anyone we know looking for legal aid. We wish you the very best for your upcoming marriage and desires for a growing family. Having a loving and supportive partner through life's experiences is a treasure that is beyond measure and compare. If there is ever anything that we can do or suggest based on our experiences for you and yours please don't hesitate to reach out to us.- M.B.
-
An amazing company, easy to work with and everyone is very knowledgeable! 5 stars and highly recommend!- Laura