Trust Attorney For Deland And Volusia County Families
A trust covers what a standard will cannot, including transferring assets to beneficiaries without probate, controlling asset distribution and minimizing tax burdens. We can help you get started.
At Akin Law P.A., we have trust attorneys in Deland, Florida, who approach estate planning with personalization. One of them, Sherrille D. Akin, has over 30 years of guiding clients through effective trust creation. With our help, we can find solutions to ensure your trust meets your expectations.
What A DeLand Revocable Trust Can Do For You
A revocable trust can meet your needs, whether you own multiple estates or seek financial privacy. Created during your lifetime, you can alter, update or revoke provisions at any time. This also lets you prepare for incapacitation, allowing you to name a successor trustee who will manage the trust on your behalf. Upon your passing, your revocable trust becomes irrevocable. Your successor trustee assumes control and delivers your instructions without probate.
While a revocable trust has its benefits, it is crucial to note that it does not protect your assets from creditors. Since you retain complete control over the trust and can change its terms at any time, the law views it as a personal asset. This allows creditors to attach claims against your trust property.
How An Irrevocable Trust Differs In Florida
Unlike a revocable trust, an irrevocable trust requires you to surrender direct ownership and control over the assets you place in the structure. After execution and funding, modification or decantation may be possible under specific statutory procedures.
If you want to protect your assets, an irrevocable trust shields them from future creditors. High net worth estate owners can utilize this to freeze asset values and leverage gifting exemptions. You can also set specific provisions that protect the funds from financially irresponsible heirs or their future divorcing spouses.
Placing assets into an irrevocable trust can assist with long-term care planning. The trust must be structured according to federal and Florida Medicaid rules to avoid having the assets count against your eligibility or triggering transfer penalties under the five-year look-back rule.
The Benefits A Special Needs Trust Offers
You may have a family member with disabilities and are seeking ways to secure their future. If done right, setting up a special needs trust (SNT) can be beneficial because it maintains your loved one’s eligibility for government benefits like Medicaid or Supplemental Security Income (SSI). Holding assets in an SNT can allow a trustee to pay for supplemental expenses while preserving the beneficiary’s benefits.
Two types of SNTs exist. A first-party SNT relies on the beneficiary’s own assets. These can include personal injury settlements and direct inheritances. A third-party SNT applies when parents or relatives fund the trust through inheritances and direct gifts.
Because Florida and federal public benefit laws are highly complex and constantly evolving, seeking legal guidance is essential.
Staying Current With Florida Trust Law
On June 20, 2025, Florida implemented legislative updates on the Trust Code. Trustees can now change or restructure trust terms directly or transfer assets without triggering tax complications. Exercising this power will not label them as the settlor or creator of the trust. Moreover, lifetime cash or property gifts may count as part of a beneficiary’s promised inheritance. This applies if the settlor explicitly included that in writing.
At Akin Law P.A., our trust attorneys in DeLand, Florida, are always on top of statutory changes. Our goal is to ensure that our clients’ strategies reflect the latest frameworks. If your trust is not yet up to the current terms, we can help you adjust.
Leveraging Your Trust For Efficient Long-Term Care Planning
Irrevocable trusts and qualified income trusts (QITs) are two options in Medicaid planning, especially when you want to secure long-term care benefits in Florida. While an irrevocable trust removes your assets from your personal estate, you can create a QIT if your income exceeds the Medicaid limit. This lets you legally channel excess income through the trust to preserve coverage.
Medicaid planning can be overwhelming, but attorney Tyler Turnbull is eager to share his skills in addressing your concerns – in coordination with attorney Sherrille Akin. Together, our team can help you plan early with consideration of Florida’s five-year look-back period.
Common Questions Clients Ask About Trusts In Florida
We share additional insights about trusts by answering these frequently asked questions.
What is the difference between a revocable and irrevocable trust in Florida?
As the settlor of a revocable trust, you can change or cancel it any time during your lifetime. This can help you avoid probate and protect your family’s privacy, but it does not guard your assets from creditors.
Meanwhile, you cannot modify an irrevocable trust once it is established and becomes a separate legal entity. Assets inside it have protection from creditors and may support Medicaid planning strategies. Florida’s 2025 trust law update expanded a trustee’s authority to modify certain trusts through a process called decanting, which provides additional flexibility in some situations.
Do I need a trust if I already have a will?
You can benefit from having both. A will goes through probate, which may take time and expose your family affairs to the public. A trust allows you to transfer assets to named beneficiaries privately and without probate. Whether a trust is right for your situation depends on your goals, the nature of your assets and your family circumstances.
What is a special needs trust, and who needs one?
A special needs trust is designed to benefit a person with a disability who receives government benefits such as Medicaid or Supplemental Security Income. These often disqualify applicants who receive an inheritance or gift directly. With a first-party or third-party special needs trust, you can hold assets in a trust and use the funds for the person’s benefit without affecting their eligibility. An attorney familiar with Florida’s public benefits rules is essential to setting one up correctly.
Speak With A DeLand Trust Attorney. Call Today.
Trusts are rarely the same across families in DeLand and Volusia counties. Determining which setup fits you depends on your assets, family needs and long-term goals.
Let us help you. You will be under the direct care of our DeLand trust attorney, Sherrille Akin. Call us at 386-271-4740 or email us to schedule an appointment. We serve families in DeLand and Volusia counties.
