Tampa Living Trusts Attorney
Create A Lasting Legacy For Your Heirs With A Living Trust
What is a Living Trust?
Living trusts are estate planning instruments that you can set up and fund while you are still alive. In contrast, a testamentary (contingent) trust only takes effect when you pass away. A living trust is a cost-efficient yet streamlined way to provide for your heirs’ needs, giving you complete peace of mind. While you are still living, you retain complete control over the assets within your trust, just as if they were still in your name. Talk to Florida Estate Law to learn more.
What Benefits Do Living Trusts Provide To My Heirs?
Living trusts help you provide for your children’s or other heirs’ needs without having to go through the probate process. Probate is costly, and often can drag on for months – even years. If your heirs live far from you, it can be quite a hassle to complete all the paperwork involved. Living trusts can also help minimize your heirs’ tax burden, eliminating financial worries from the picture at a time when they need to focus on getting through the grieving process. To learn more, make an appointment with our experienced estate lawyer.
Does A Living Trust Benefit Me Now?
In addition to you retaining complete control over the assets you place into the trust, a living trust can also provide for your needs if you acquire a disability. Without a living trust or financial power of attorney, the probate court can control how your family cares for you. With a living trust, you can appoint a trustee – usually a family member or trusted friend – to administer your assets in case you become disabled. A living trust is revocable, meaning that you can easily amend the provisions or even cancel it entirely as your needs change. It’s one of the simplest, yet most powerful ways to ensure that those whom you love may control your assets when you no longer can. Learn more about the peace of mind that comes with a living trust. Discuss your needs in a consultation with Florida Estate Law.