Trust Planning Florida – Build the Right Trust, Not Just Any Trust
Your trust planning should make life easier. It should keep things private, spell out who’s in charge, and help your family act fast when it matters.
At Smith Will & Trust, part of our Estate Planning & Trust Services, we design Florida-specific trusts that work in the real world, coordinated with your accounts, deeds, and business interests. Compared with a standard will, a revocable living trust can help you avoid probate and maintain privacy under Florida law.
Our trust planning attorneys serve families across Tampa, Brandon, Riverview, and SouthShore, helping clients create trusts that fit their goals, whether that means a simple revocable trust to avoid probate or a sophisticated structure for business succession, tax efficiency, or special-needs protection.
Trust planning isn’t just about legal documents; it’s about designing a plan that actually works when life changes.
Understanding Trust Planning in Florida – What Fits Your Goals
Different goals require different types of trusts. We explain each option clearly so you can choose the structure that matches your needs and long-term plan.
Choosing the Right Trust for Your Goals
Different goals require different tools, and effective trust planning helps you identify which trust structure truly fits your needs. At Smith Will & Trust, we explain your options in plain English so you can choose the type of trust that supports your family, your assets, and your long-term plan.
Revocable Living Trusts
A revocable trust keeps you in control while you’re alive, allows you to update terms at any time, and helps your family avoid probate, as long as it’s funded correctly.
Revocable trusts can:
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Centralize instructions in one document.
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Provide disability management if you become incapacitated.
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Keep asset transfers private and efficient after death.
While revocable trusts offer flexibility, they don’t protect assets from creditors during your lifetime. For clients seeking additional protection or tax benefits, we may recommend irrevocable trusts or specialized options such as a charitable trust.
To see how this fits into your full Estate Planning & Trust Services strategy, our Tampa-area attorneys will walk you through each option, from living trusts and business succession to legacy gifts that reflect your values.
Advanced Trust Planning: Irrevocable & Specialized Trusts
When asset protection, tax efficiency, or legacy preservation matter more than personal control, an irrevocable trust can offer powerful advantages. As part of our comprehensive trust planning and Florida estate planning services, Smith Will & Trust helps clients design trusts that balance protection, purpose, and flexibility.
Irrevocable trusts are commonly used for:
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Gifting and legacy planning that transfers wealth efficiently.
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Long-term care and Medicaid eligibility while protecting family assets.
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Tax reduction and charitable giving through specialized structures like charitable trusts.
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Dynasty and asset-protection planning for multi-generation wealth management.
We also advise couples on creating a Florida Community Property Trust, which can enhance capital gains treatment and align with their broader trust planning strategy.
Our attorneys explain every trade-off so there are no surprises—only clarity, compliance, and confidence that your plan will work when it matters.
For statutory reference, see the Florida Trust Code (Chapter 736).
Special Needs Trust
If you have a loved one with special needs, proper trust planning is essential. A carefully drafted special needs trust can preserve eligibility for SSI and Medicaid while still allowing supplemental support for quality of life expenses such as therapy, education, and personal care.
At Smith Will & Trust, we prepare both first-party and third-party special needs trusts that comply with federal and Florida law, ensuring that your plan meets all legal standards while protecting your loved one’s long-term financial security.
As part of our broader Florida estate planning and trust services, we help families integrate special needs provisions into their overall estate plan, offering peace of mind that care and benefits will remain uninterrupted.
Charitable Trust
Charitable remainder and charitable lead trusts allow you to support the causes you care about while potentially reducing income and estate taxes. As part of our integrated trust planning and Florida estate planning services, we help you design charitable trusts that reflect your values and comply with state and federal requirements.
Our attorneys structure each charitable trust to align with your giving goals, beneficiary timelines, and tax objectives, ensuring that your philanthropy is both personally meaningful and legally sound.
For additional federal guidance on these trusts, see the IRS Charitable Remainder Trusts overview.
Revocable vs. Irrevocable – What Each Does in Florida
Revocable trusts offer clarity, privacy, and quick management if you become incapacitated. However, under the Florida Trust Code, creditors can reach assets in a revocable trust while you’re alive.
If protecting those assets is a priority, we can explore Trust Planning options that include irrevocable trusts or coordinate your plan with business law strategies designed for long-term security.
Irrevocable Trust: When You Need More Structure
In Florida estate planning, an irrevocable trust can be one of the most powerful tools for protecting assets, reducing taxes, and preserving wealth across generations. Unlike a revocable trust, an irrevocable trust cannot be easily changed or revoked once it’s established — which is exactly what gives it strength.
At Smith Will & Trust, our attorneys integrate irrevocable trust planning into broader Estate Planning & Trust Services to help you achieve specific goals such as:
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Shielding assets from potential creditors or lawsuits.
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Reducing estate and gift tax exposure.
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Preserving Medicaid or long-term care eligibility.
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Creating charitable remainder or special needs trusts that balance generosity and protection.
We carefully coordinate each trust with your existing accounts, property titles, and business interests to ensure legal consistency and maximum benefit. Whether you’re planning for your family, your business, or your legacy, our Florida trust attorneys provide personalized strategies that work in the real world — not just on paper.
For statutory reference, see the Florida Trust Code (Chapter 736).
How we do trust planning (start to finish)
Our process is designed to be simple and transparent.
Listen First:
We start with your family, assets, “what-ifs,” and non-negotiables.
Design in Plain English :
We outline options and trade-offs so you know what each choice means.
Draft & Execute Correctly:
We meet Florida formalities and confirm trustees, successors, and powers are set up correctly.
Fund the Trust:
We coordinate deeds, titles, and beneficiary designations so assets are actually owned by the trust.
Keep it Current:
Life changes—marriage, divorce, new children, business sales—trigger free checklists and optional reviews so your plan stays updated.
Funding: the step most people skip
A beautifully drafted trust is only as effective as the assets placed inside it. In Florida trust planning, this crucial step, called trust funding, is what gives your plan power and ensures your wishes are actually carried out.
At Smith Will & Trust, we don’t stop at drafting documents. As part of our integrated Estate Planning & Trust Services, we help clients complete the trust funding process with accuracy and confidence. This includes:
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Preparing and recording Florida real estate deeds to properly title property in the trust.
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Retitling bank, brokerage, and retirement accounts when appropriate.
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Updating beneficiary designations to ensure everything coordinates with your overall estate plan.
Proper trust funding is what allows your family to avoid probate, maintain privacy, and experience the seamless transitions that a well-designed trust promises. Our attorneys provide checklists, letters to financial institutions, and personal guidance to make this essential part of your trust planning easy to complete, and easy to understand.
After it’s signed: keeping the trust on track
Florida law requires trustees to keep beneficiaries reasonably informed and to provide accountings. We set up a practical system so trustees can succeed with their duties. Our team provides calendars, sample notices, and reminders so the trust stays compliant.
Through our trust planning process, we also help you anticipate these responsibilities before they become stressful—so you know exactly what’s expected once the trust takes effect.
If you’re serving as trustee for someone else, we can guide you through your fiduciary responsibilities, including:
• Investing prudently under the Florida Prudent Investor Rule.
• Distributing income and principal according to the trust terms.
• Filing tax returns when required.
Good administration keeps beneficiaries informed and reduces the chance of disputes later.
Who we help (quick scan)
- Parents
- Retirees
- Blended families
- Physicians
- Entrepreneurs
- Caregivers
- Charitably-minded families
Whether you are just starting out or planning for multiple generations, we build trusts that match your goals and Florida law.
Where We Meet (and Who to Call)
We proudly serve clients throughout Tampa, Brandon, Riverview, and SouthShore, providing trusted legal guidance that’s local, personal, and accessible.
- Smith Will & Trust: 4830 W. Kennedy Blvd., Suite 600, Tampa, FL 33609
FAQs
Do I still need a will if I have a trust?
Yes. A “pour-over” will catches any assets outside your trust and names guardians for minor children. We include one with every trust-based plan.
Can I change or revoke my trust?
If it is revocable, yes—by the settlor—consistent with the Florida Trust Code. If there are multiple settlors, both may need to agree. Irrevocable trusts typically require beneficiary consent or court approval to modify.
Will a revocable trust protect my assets from creditors?
No. Creditors can reach revocable trust assets during your lifetime to the same extent as if you owned them personally.
What does a trustee have to do each year?
Trustees must act prudently, keep beneficiaries informed, and provide accountings. We offer checklists and support so trustees meet their obligations.