The Trustor: Unsung Hero of Estate Planning – A Central Florida Trust Lawyer’s Perspective

Imagine you are  at a family reunion, and your eccentric Uncle Larry  starts talking about how he’s become a “Trustor.” Your cousin Sarah rolls her eyes, assuming it’s just another one of Larry’s quirky hobbies. Little does she know, Uncle Larry might just be the smartest person at the picnic table.

As a Central Florida trust lawyer, I can tell you that being a Trustor isn’t about joining some secret society or learning a new dance move. It IS  about taking control of your legacy and protecting your family’s future. So, let us demystify this role and show why Uncle Larry deserves a high-five instead of an eye-roll.

What Exactly Does a Trustor Do?

A Trustor, simply put, is the person who creates a trust. But the role involves much more than just signing a few papers. The key responsibilities of a Trustor are:

1. Creating the Trust: The Trustor is responsible for establishing the trust by drafting a legally binding trust agreement. This document outlines how the trust will operate and what it aims to achieve.
   
2. Defining Terms: As the Trustor, you set the rules. You decide who the beneficiaries are, how the assets should be managed, and under what conditions they should be distributed. Want to ensure your grandchildren use their inheritance for education? You can specify that in the trust terms.
   
3. Appointing Trustees: The Trustor selects one or more trustees to manage the trust. This is a crucial decision, as the trustee will be responsible for carrying out your wishes according to the trust document.
   
4. Funding the Trust: A trust is only effective if it has assets. The Trustor is responsible for transferring ownership of assets into the trust, which could include real property, personal property, investments, or cash.

Why Being a Trustor Matters

Now, you might be wondering why anyone would want to take on these responsibilities. At Bullard Law, we’ve seen firsthand how being a Trustor can make a world of difference:

• Control: As a Trustor, you maintain control over how your assets are managed and distributed, even after you’re gone.
• Protection: Trusts can protect your assets from creditors and potentially reduce estate taxes.
  
  
• Privacy: Unlike wills, trusts are not public record, offering more privacy for your family.
  
  
• Flexibility: Trusts can be tailored to meet your specific needs and family situation.

Real-World Impact of Being a Trustor

Remember Uncle Larry? He set up a trust for his grandkids’ education. Twenty years from now, when little Timmy is heading off to college debt-free, he’ll be thanking his lucky stars for his forward-thinking grandpa. That’s the power of being a Trustor — you’re not just managing assets, you are shaping futures.

Ready to Create Your Trust?

Being a Trustor isn’t just for eccentric uncles or millionaire tycoons. It’s for anyone who wants to protect their assets and provide for their loved ones. Whether you’re a small business owner, a new parent, or just someone who likes to plan ahead, you can step into the Trustor role.

You have worked hard for your assets.  Don’t let them and your hopes for your loved ones’ futures be left to chance. At Bullard Law, we are committed to providing practical, personalized solutions that help Central Florida families and businesses thrive.

Take the first step towards becoming a Trustor by scheduling our Will & Estate Planning Strategy Session. We’ll help you develop a customized plan to protect your assets and ensure your wishes are honored. Contact us at 407-648-9530 or email us at info@bullardlaw.com to schedule your appointment.

Let’s work together to create a legacy that stands the test of time. Remember, at Bullard Law, we’re not just your attorneys – we’re your trusted legal partners in Central Florida, dedicated to your success and peace of mind.