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Fort Lauderdale Dynasty Trusts Attorney

Oakland Park Dynasty Trust Attorneys

Legacy Planning Lawyers Serving Broward County and South Florida

Florida's allowance of long-term dynasty trusts makes the state an excellent place to be for those looking to preserve family wealth over generations. While all types of trusts provide an excellent vehicle for passing an estate to the next generation, a dynasty trust can be used to hold estate property and distribute it for many generations to come. You do not need to be a billionaire to create a lasting legacy with a dynasty trust. Even the plan for a moderately-sized estate can include a dynasty trust aimed at minimizing tax burdens or preserving assets for grandchildren.

At the Law Office of Miller & Miller, P.A., we are experienced at managing estates of all types and sizes. If a dynasty trust would make a good addition to your comprehensive estate plan, our skilled attorneys can create one that suits the particular needs of your family. Although this type of trust can last for up to 360 years after you are gone, you still have a level of control over how your trust assets will be distributed over time.

Pompano Beach Law Firm for Creating Long-Term Legacies With Dynasty Trusts

When you have worked hard and been successful in life, you will want to make sure that the wealth you have accumulated will be there to benefit your descendants for many generations. Using a dynasty trust to manage family wealth offers several advantages over simply leaving your property to the younger generation outright. One is that because distributions from the trust are controlled by your terms, your descendants cannot quickly disseminate their inheritance. This nearly guarantees that something will be left in the trust for the following generation.

As the grantor, you have a relatively broad level of control over how distributions will work. Our attorneys will work with you to determine what type of distribution schedule will best serve your goals. Professional trustees are often appointed to manage dynasty trusts due to their complexity, and this makes it more likely that there will always be a suitable successor-trustee as the decades pass. The Law Office of Miller & Miller, P.A. will explain all your options for managing your dynasty trust over several centuries to ensure that your family's individual needs are being met.

Protecting Assets With Dynasty Trusts

If you are interested in preserving assets to benefit more than just the next generation, Florida's dynasty trust laws may offer an excellent way to minimize your tax liabilities. Were you to gift your entire estate to your children, estate taxes may apply. If there is anything left over for your grandchildren, it would be taxed a second time as part of your children's estates. However, if you use a dynasty trust, these taxes and other liabilities apply only once.

Dynasty trusts also have the benefit of shielding assets from the creditors of any beneficiaries, as well as keeping wealth in the family if a beneficiary gets divorced. Because beneficiaries cannot voluntarily withdraw their share outside of the terms of the trust, no creditor can compel them to do so. The long-lasting nature of dynasty trusts also offers ample opportunity for the trust itself to earn income that can be used to benefit even more future generations.

Speak With a South Florida Dynasty Trusts Attorney

The Law Office of Miller & Miller, P.A. is committed to creating customized estate plans that serve the individual needs of our clients and their intended beneficiaries. Our attorneys are skilled at crafting dynasty trusts that preserve assets and protect beneficiaries for many generations to come. Contact our office or call 954-981-9301 to schedule a free consultation and learn how a dynasty trust can protect your family's financial future. We serve clients throughout the Fort Lauderdale and Pompano Beach areas.

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