What is an inheritance trust?

An inheritance trust is a legal entity that exists in Florida to protect the assets of an estate. They are typically used when there are minor beneficiaries involved in a will, or when the will is subject to probate. An inheritance trust can also be used to reduce taxes on an estate or to help manage assets in order to provide a steady income stream for the beneficiaries. When an estate is placed into an inheritance trust, it is managed by a trustee. The trustee is the person or entity responsible for managing the trust and its assets. The trustee is responsible for making sure that the assets are invested properly and providing an income for the beneficiaries. They can also distribute funds as directed by the terms of the trust. The trust can also be used to protect an estate from creditors or reduce inheritance taxes. When the trust is set up, the beneficiaries are entitled to a percentage of the estate assets. This helps to protect the assets from creditors or from being used to pay excessive taxes. In summary, an inheritance trust is a legal entity in Florida that is used to protect the assets of an estate. It is managed by a trustee who is responsible for distributing the assets as directed by the terms of the trust. An inheritance trust can also be used to reduce inheritance taxes or to protect the assets from creditors.

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What is an inheritance trust?

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