Steps to Create an Enforceable Trust

Trusts must be properly created in order to be enforceable. There are strict legal requirements. The last thing that you want is to create a trust only to later find out that it is unenforceable. Here are some of the requirements for an enforceable trust.

Establish Intent and Purpose to Create a Trust

This is one of the easier steps. You can simply state this in the trust document through your words. In addition, the trust must have a valid purpose, such as being part of an estate plan.

Have the Proper Testamentary Capacity

In order for the trust to be valid, you must not be incapacitated. This means that you are competent and able to enter into a contract. This is why trusts must be set up before you may develop a condition like dementia.

Select a Trustee and Beneficiary

For a trust to be valid, control of the property must be out of your hands and in those of a trustee. It is important to select a trustee with the skill, competence and reliability to manage the trust assets. In addition, you must also select the person or people who will receive the trust assets.

Execute the Trust Document

Trusts are not valid unless they are signed and executed. This must be done in front of a notary. You may even need witnesses for your trust agreement.

Get Legal Help

Establishing trusts on your own is not easy. There are numerous details, and you need to select the proper structure. It is always better to get legal help rather than trying to do this on your own.

Consult with a Boca Raton Estate Planning Lawyer

The attorneys at Rubino Findley PLLC can advise you when you are looking to establish a trust. We can help execute all of the details. Contact us online or call us at 561.220.4213 to set up a time to talk.