St. Petersburg Trusts Lawyer
Trusts are a powerful tool in estate planning, providing flexibility, security, and peace of mind for families and individuals. Whether you want to ensure your assets are managed responsibly, minimize taxes, or provide for loved ones over time, a trust can be tailored to meet your specific needs. At Drude Tomori Law, we help clients create and manage trusts custom-designed to protect their assets and achieve their goals. Talk to our St. Petersburg trusts lawyer today about incorporating trusts into your estate plan.
What Is a Trust?
A trust is a legal arrangement where one party, known as the trustee, holds and manages assets for the benefit of another party, called the beneficiary. The person who creates the trust is the settlor (also called the grantor or trustor in other states). Trusts allow you to set rules and conditions for how and when your assets are distributed, offering control and protection that traditional wills often cannot provide.
With a trust, you can ensure your assets are managed according to your wishes both during your lifetime and after your passing, offering financial security for your loved ones.
Common Types of Trusts
At Drude Tomori Law, we help clients establish a variety of trusts, each serving a unique purpose:
- Revocable Trusts: Also known as living trusts, these can be modified or revoked by the settlor during their lifetime. They offer flexibility and help avoid probate while keeping your estate plan private.
- Irrevocable Trusts: These trusts cannot be altered once established, offering strong asset protection and tax advantages.
- Specialized Trusts: Depending on your needs, we can create trusts for asset protection, charitable giving, or other specific purposes.
Each type of trust serves distinct goals, and we’ll work with you to identify the best option for your situation.
Benefits of Including a Trust in Your St. Petersburg Estate Plan
Trusts provide many advantages over other estate planning tools:
- Avoiding Probate: Assets in a trust do not go through probate, allowing for a faster and less expensive to beneficiaries.
- Privacy: Since they are not probated, trusts do not become a public record, allowing you to keep details of your estate and how it is distributed private if you wish.
- Asset Protection: Certain trusts can protect assets from creditors, lawsuits, or financial mismanagement by beneficiaries.
- Tax Advantages: Trusts can be structured to reduce estate taxes and preserve wealth for future generations.
- Control Over Asset Distribution: Trusts allow you to set conditions on how and when assets are distributed, taking special circumstances into account and ensuring your wishes are respected.
- Planning for Incapacity: In the event of incapacity, a trust ensures your assets are managed by a trustee you’ve chosen, according to your instructions.
How Drude Tomori Law Can Help
At Drude Tomori Law, we understand that no two clients are the same. We take the time to learn about your financial situation, family dynamics, and long-term goals to recommend a trust structure tailored to your needs. Our team creates trust solutions that are not only effective today but also flexible enough to adapt to changes in the law or your family’s circumstances over time.
From drafting your trust to ensuring proper funding and administration, we guide you through every step of the process with personalized attention and care.
Do You Need a Trust?
A trust may be the right choice for you if:
- You want to avoid probate and simplify the transfer of assets.
- You have minor children or loved ones with special needs who require ongoing financial support.
- You’re concerned about protecting assets from creditors or lawsuits.
- You want to minimize estate taxes and maximize the value passed on to future generations.
If any of these apply to you, it’s time to explore how a trust can benefit you and your family.
Contact a St. Petersburg Trusts Lawyer Today
At Drude Tomori Law, we are committed to helping families in St. Petersburg protect their assets and secure their legacies. Trusts are a versatile and effective tool for achieving these goals, and our team is here to provide the guidance you need.
Call us at 727-300-8900 or visit contact us online to schedule a consultation. Let us help you create the right trusts that give you confidence and peace of mind for the future.
