Below are options you can choose, depending on your circumstances. Please place a checkmark by the trust package you would like below. All of the below options include unlimited guidance by Florida Attorney Cyrus Malhotra:
You will be the grantor and initial trustee of your trust. In addition, you will also need to name a Trustee (either co-trustees, successor trustees, or both) and
Beneficiaries of this trust.
1. Only you and the Co-Trustee(s) will have possession of the items in your trust
2. You do not need to name yourself as co-trustee
Co-Trustee(s) – ***OPTIONAL, NOT REQUIRED TO COMPLETE TRUST
Co-Trustees are people who will serve as trustees simultaneously with you. Co- trustees will have the same rights of possession to trust assets as you, and they will be able to use/sell/control the trust assets. This is not highly recommended unless your co-trustee is someone who is highly trusted.
Successor Trustees are much more common. Successor trustees have no current rights to your trust property, however in the event something should happen to you, the successor trustee(s) would gain possession of the items in your trust, and would carry out your wishes. It is a good idea to name at least 2 successor trustees.
The beneficiary is ultimately who will receive the trust assets. It is a good idea to name alternate beneficiaries in case your main beneficiary precedes you in death. You can name minors as beneficiaries.