Categories for Asset Protection

How To Remove A Beneficiary From A Trust

March 21, 2023

How To Remove A Beneficiary From A Trust Trustees have certain powers and duties in order to ensure that their responsibilities to the trust and its beneficiaries are met. While the trustee has broad control over the trust’s assets, it is often advisable for them to meet with beneficiaries before making decisions regarding distributions. This can help avoid situations in which beneficiaries feel forced to sell real estate they want to inherit because the trustee feels it is a good way to meet distributions. The Powers And Duties Of A Trustee A trustee has a number of powers granted to them... View Article

How Long Does It Take To Distribute Assets From A Trustee?

March 14, 2023

How Long Does It Take To Distribute Assets From A Trustee? If you are a beneficiary waiting for asset distribution from a trust, it is likely that you are concerned about the timing of this process. A trustee must administer the trust according to the terms of the trust instrument, including any asset distribution plan set forth in the trust document. Here are some guidelines for that process from our experienced legal attorneys. The Trustee’s Role The trustee is responsible for managing the assets placed in a trust. This responsibility entails three primary duties: investment, administration, and distribution. The trustee... View Article

What Is The Difference Between A Trustee And A Beneficiary?

February 21, 2023

The beneficiaries of a trust are people or entities that the grantor (the person who created the trust) wants to support. The grantor usually indicates what the beneficiaries are supposed to receive and when, in a written document. The trustee manages the assets of the trust until the trust is distributed to the beneficiaries.  The Beneficiaries Are The Ones Due To Receive The Trust Assets  Trustees are supposed to treat trust beneficiaries fairly and take actions that benefit the Trust rather than themselves. Despite this, some Trustees are guilty of taking Trust assets to themselves or using them for personal... View Article

Tips for Maximizing Your Asset Protection in Miami, FL

December 30, 2020

Even if you have perfect credit, a paid-off home and no plans to engage in any high-risk activities, you can still lose all your assets. Anyone can be sued, which means your personal assets can be seized to pay those bills in the event you’re hit with a lawsuit. That’s why asset planning and protection in Miami, FL is so important. Here are our best tips to protect your hard-earned assets. What is asset protection? Asset protection is a term for using legal structures to protect your home, car, bank accounts and other assets from being seized to pay off... View Article

Rubén J. Padrón, PA
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