Trust Attorney in Sarasota

Secure Your Legacy—Serving Throughout Southwest Florida

Often, trusts are associated with the extremely wealthy. However, trust funds are a beneficial aspect of estate planning that everyone should consider. Whether you are looking for a way to avoid probate or you want to ensure your children are taken care of, trusts can help you prepare for the future. At Advocates in Aging, we have over 36 years of experience handling all types of trusts, and we can help you design the trust fund that best fits your needs.

Trusts offer flexibility in estate planning by allowing you to manage your wealth according to your specific intentions. They provide control over asset distribution, ensuring your wishes are honored without the lengthy probate process. By working with a trust lawyer from our firm, you can explore tailored options that not only align with your financial goals but also provide peace of mind for you and your family.

Ready to Plan Your Trust? Contact Our Sarasota Trust Lawyers Today at contact Advocates in Aging at (941) 242-7270.

Explore Different Trust Options in Sarasota

At their core, trusts are a legal agreement where one individual holds the property or assets on behalf of another individual. The person doing the estate planning and who is looking to establish a trust is called the settlor or the grantor. The person authorized to hold the property on behalf of the settlor is the trustee. The trustee then manages the trust for the beneficiaries.

Trust options vary, and understanding each can significantly impact how effective your estate planning is. Revocable living trusts, for instance, allow modifications during your lifetime, providing flexibility. Irrevocable trusts, on the other hand, offer enhanced asset protection and tax benefits. Marital trusts can protect a surviving spouse, while special needs trusts ensure the well-being of a beneficiary with disabilities without jeopardizing government assistance. Our trust attorneys can guide you through these options, ensuring your particular needs are met.

There are several different types of trusts, including:

• Trust funds for minor children
• Marital trusts
• Spendthrift trusts
• Special needs trusts
• Revocable living trusts
• Irrevocable life insurance trusts

Depending on your goals, the trust that is best for you will vary. For example, if you are looking to avoid probate, a revocable living trust might be recommended. Meanwhile, if you need to establish a trust to provide for a child with special needs, you would create a special needs trust. Other trusts can help you take advantage of tax exemptions or help you protect your estate from creditors. An experienced trust attorney can help you identify the trust that best fits your needs.

Our team at Advocates in Aging: Law Office of Wiesner Smith emphasizes the importance of choosing the right trustee and understanding the roles and responsibilities involved. A well-chosen trustee can administer your trust effectively, preserving your estate's integrity and meeting your beneficiaries' expectations. Whether it's a corporate trustee or a trusted family member, we provide guidance on making this crucial decision.

Why Choose a Sarasota Trust Attorney?

Selecting a local Sarasota trust attorney provides significant advantages. Understanding the nuances of Florida trust law is vital, as state-specific regulations can impact your estate planning decisions. For instance, Florida law requires a different procedure for executing a valid trust compared to other states. By relying on the expertise of a Sarasota trust attorney, you ensure that your trusts are compliant with state laws, protecting your assets as intended.

Moreover, a local attorney is well-acquainted with the community's unique needs and concerns. Whether it's knowing the local financial institutions or having established relationships with relevant professionals, such as tax advisors and financial planners, a Sarasota trust attorney connects you to a broader network of support. Advocates in Aging prides itself on fostering these connections, providing comprehensive support and tailored solutions that emphasize the community's needs.

Common Trust and Estate Planning Myths

One common myth is that trusts are only necessary for wealthy individuals. In reality, anyone with assets can benefit from the structured allocation and management that trusts offer. Regardless of the estate size, the ability to direct how and when your assets are distributed can be invaluable. Trusts can prevent family disputes by providing clear instructions and help in avoiding costly probate proceedings.

Another myth is that creating a trust means giving up control over your assets. With revocable living trusts, you can maintain control during your lifetime, modifying the trust as your circumstances evolve. It's a flexible option that adapts to your life's changes. At Advocates in Aging: Law Office of Wiesner Smith, we help dispel these myths and provide clear, personalized advice, reassuring clients about maintaining control while safeguarding their legacy.

Get the help you need from an experienced living trust lawyer. Contact us at (941) 242-7270 or access our online form without delay.

Frequently Asked Questions About Trusts

What Is the Role of a Trust Lawyer?

A trust lawyer assists in creating, managing, and enforcing trusts as part of estate planning. Their role involves advising on trust types that best suit your needs, drafting legal documents, and ensuring they comply with applicable laws. Additionally, a trust lawyer assists with funding the trust and navigating any legal complications. At Advocates in Aging: Law Office of Wiesner Smith, our Sarasota trust lawyers are dedicated to ensuring your trust aligns with your long-term goals and local regulations.

How Does a Living Trust Differ from a Will?

While both a living trust and a will provide mechanisms to distribute an estate, they serve different functions. A living trust allows for the management and distribution of assets during and after your lifetime without going through probate, offering privacy and efficiency. In contrast, a will distributes assets upon death and requires probate, which can be public and time-consuming. To discuss how these options can fit your estate planning goals, consult an experienced living trust attorney at Advocates in Aging: Law Office of Wiesner Smith in Sarasota.

What Are the Tax Benefits of a Trust?

Trusts can offer several tax advantages by properly structuring one's estate plan. For example, certain types of trusts can minimize estate taxes and protect your estate from creditors. Irrevocable trusts, in particular, can remove assets from your taxable estate. It's crucial to consult a knowledgeable trust attorney, like those at Advocates in Aging: Law Office of Wiesner Smith, who understands how Florida laws apply to your specific situation, optimizing your estate's tax position while protecting your assets.

Can Trusts Be Contested in Florida?

Yes, trusts can be contested in Florida under certain conditions, such as doubt over the trust's validity due to incapacity or undue influence at the time of its creation. Having a properly structured and witnessed document significantly reduces the likelihood of successful contests. At Advocates in Aging: Law Office of Wiesner Smith, we focus on drafting clear and legally sound trusts that withstand scrutiny and align with your wishes, safeguarding against potential disputes.

Why Consider a Revocable Living Trust?

Revocable living trusts are often favored for their flexibility and control. Unlike wills, they allow you to manage assets during your lifetime, permitting changes as your needs evolve, including the ability to revoke the trust entirely. These trusts facilitate easy transfer of assets upon your passing, bypassing probate and maintaining privacy. To determine if a revocable living trust is right for you, schedule a consultation with a living trust lawyer who has extensive experience tailoring trusts to meet individual needs.

Discover How Trusts Can Benefit You: Call A Knowledgeable living trust attorney at (941) 242-7270.