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One of the best reasons to secure business trust attorneys in Coral Springs is probably for reasons you don’t even know about yet. Planning ahead for the unexpected is so valuable for businesses and could ultimately save your company a lot of time and money down the line.
The business trust attorneys at Reinfeld & Cabrera, P.A., in Coral Springs, recognize the value in planning ahead. Everyone wants their business to be as successful as possible, and making sure you have planned ahead for the future will help you achieve that success, as well as make sure you are prepared to pass along your business or family wealth in the future.
An important part of the estate planning process that the business trust attorneys in Coral Springs perform is setting up business trusts. This will help to avoid future probate and trust litigation. You want to know that your business interests are covered for any future possibility. Our experienced attorneys will help make sure you have planned accordingly.
Setting up a trust allows you to put conditions on the distributions of your assets, as well as the timing of the distribution, after you pass away. It also allows for the distribution of your assets to go to your heirs without the necessity of probate court, saving your heirs costs, as well as time. Business trust attorneys in Coral Springs know to use a trust as an instrument to transfer assets, without the creator of the trust having to give up all control.
A business trust can also direct the operation of a business in case something happens to you, the original trustee, if you become incapacitated.
A business trust attorney can set up the trust in ways that allow an heir to have power to control assets once they reach a certain age, with a trustee delegated before the heir reaches the specific age. A revocable trust allows the creator of the trust to end the legal document at any time, while an irrevocable trust ends only at a set time, such as when the beneficiary dies.
The business trust attorneys in Coral Springs will also tell you that a business trust gives your family, or your heirs, more privacy upon your death, than if your assets and wishes were only laid out in a will. A will is a matter of public record and would detail a list of assets for the court, whereas a business trust is not a matter of public record.
To hear all about what estate planning you should consider for your business, please consult with the business trust attorneys at Reinfeld & Cabrera, P.A. in Coral Springs. We will help you prepare for the future and make sure you have covered all your bases.