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Fort Lauderdale Minor's Trusts Attorney

Pompano Beach Lawyers for Minors Trusts

Lawyers for Protecting Your Minor Children Serving Broward County and South Florida

If you have minor children, protecting them is probably your most important estate planning goal. No parent wants to think about what will happen to their children if the parent passes away prematurely. It is a troubling thought, but planning for this contingency with a minor's trust can bring you some peace of mind. By having the forethought to prepare in advance, you can continue providing for your children for many years to come or even ensure that they will have money for college.

The Law Office of Miller & Miller, P.A. is experienced in creating minor's trusts that parents can feel confident in. We understand how critical it is that your children are provided for in your estate plan, and we will strive to create a minor's trust that you are satisfied with.

Pompano Beach Lawyers for Avoiding Guardianship With Minor's Trusts

When a minor is left property that is not contained in a trust, Florida probate courts will appoint what is known as a Guardian of the Property. This guardian is charged with managing the minor's inheritance for them until the minor turns 18 years old. When a property guardianship is necessary, the court rather than the parents choose the guardian. By using a trust instead, the choice in trustee rests with you.

There are also expenses associated with a property guardianship that can chip away at the money your children will ultimately receive. Unlike a trustee, a guardian is required to provide the court with formal accountings of how the children's property is being managed, including any distributions or investments. This results in more court proceedings and more costs.

The other major concern many parents have about property guardianships is that they terminate when the child turns 18, and the entire inheritance is immediately turned over to the new adult. Our attorneys understand why this may frighten some parents, and we will work with you to avoid the pitfalls of property guardianships with a minor's trust.

Planning Distributions to Minor Children

Children need adults to make responsible decisions about managing money for them. Young adults may also benefit from the aid and oversight of a trustee. When you create a trust for a minor, you have relatively broad control over how the money is to be used and distributed over time, even after your children reach adulthood. You have the option to earmark funds for college educations, weddings, and other needs or milestones. The duty of the trustee you appoint is to distribute funds according to the terms of the trust - which you create with the help of an attorney.

Many parents set up trusts for their minor children to remain in effect until the child turns 25 or even 30 years old. Young adults below that age may be prone to reckless financial decision-making, so extending a minor's trust offers your children protection from themselves until they are older and more mature. The Law Office of Miller & Miller, P.A. will work with you to come up with custom trust terms that meet the individual needs of your family. You know your children better than anyone, and our firm believes that you are the best person to make these decisions for them.

Speak With a South Florida Lawyer for Minor's Trusts

If you want the protection of a Florida minor's trust for your children, the Law Office of Miller & Miller, P.A. is here to help. Contact our office by calling 954-981-9301 for a free consultation. Our firm serves clients throughout South Florida in Wilton Manors, Oakland Park, Pompano Beach, and Fort Lauderdale.

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