A spendthrift is a person who spends money in an extravagant, irresponsible way. Do you have a spendthrift in your family? Fortunately for you, Florida law allows you the ability to create a spendthrift trust. This type of trust is one set up by the creator (you) for the benefit of a third party (i.e., a spendthrift child). A full discretionary trust gives the independent trustee complete discretion over distributions and prohibits the beneficiary from compelling a distribut
A QTIP Trust may sound like piece of cotton, but in reality it stands for a "Qualified Terminable Interest Property" trust. If you die first but want to determine who receives the trust property after your spouse dies, consider using a QTIP Trust. A QTIP trust operates much the same as a marital deduction trust, with one important exception: You, not your spouse, specify who receives the remaining property in the trust after your spouse dies. [Because a QTIP trust makes us
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