Tampa, Florida Wills and Trust Lawyers
The Tampa, Florida trust lawyers at The Reyes Firm can help you establish a trust to protect your legacy and ensure that your loved ones are provided for. There are several types of trusts that can help you transfer assets to the next generation in a tax-efficient way. The kind of trust you’ll need to use will depend upon your family’s unique situation. Because trusts can cost money to open and maintain, a trust might not be the right option for everyone. Yet, for families with high net-worth, those with the need to find tax efficient ways to pass money to the next generation, and those looking for more private ways to transfer wealth, a trust might be a great choice.
In general, trusts are better options for those with greater wealth looking for more tax-efficient ways to estate plan. Trusts can allow for a greater specificity of how your assets are distributed to your beneficiaries. For example, you can establish a charitable trust to set aside money for a specific charitable use or provide specific provisions for how assets are to be distributed from an irrevocable trust. A trust can also help your family avoid probate, meaning you can transfer wealth without the need for a will to be taken to court, allowing for greater privacy.
The Reyes Firm is a trust lawyer in Tampa, Florida that can review your unique financial situation and select the trust that’s right for you. If you need help with estate planning, the trust law firm in Tampa, Florida at The Reyes Firm is here to help you. Whether you need a trust or a will, The Reyes Firm in Tampa, Florida can work to find the estate planning solution that meets your needs.
Types of Trusts
There are several types of trusts that you can use for your estate planning purposes. If you need help selecting the right trust for your family, or deciding whether a trust is right for you, reach out to the trust law firm in Tampa, Florida at The Reyes Firm. Here are some trust options available:
- Revocable Trust. With a revocable trust, you’ll have the benefit of being able to transfer assets to a beneficiary should you pass away or become too sick to manage your finances. With a revocable trust you can access your assets, end the trust at will, and change the trust if needed. Because the person opening this kind of account has access to the trust and can change the trust or close it, this trust doesn’t offer tax savings or protections from creditors that other trust options might have.
- Irrevocable Trust. With an irrevocable trust, the person opening the trust no longer has access to the assets in the trust. The assets are passed on to the beneficiaries named in the trust. With an irrevocable trust, the person opening the trust can specify when money is distributed, and how much is distributed at a given time.
- Special Needs Trust. A special needs trust is designed to pass assets to a person who may be dependent on government benefits. While there are strict rules about how money can be distributed from a special needs trust, a special needs trust helps ensure that a loved one with a disability or special needs can benefit from his or her inheritance.
- Charitable Trust. With a charitable trust, you can set aside money to be used for a specific charitable purpose.
These are just some of the kinds of trusts that can be established. If you aren’t sure what’s right for you or need help, The Reyes Firm, a trust law firm in Tampa, Florida may be able to help you. Our trust lawyer can review your situation and help you open the trust or trusts you need to preserve your legacy, protect your assets, and ensure that the next generation is cared for as you wish.
Selecting the Right Trust for Your Needs in Tampa, Florida
The Reyes Firm is a trust law firm in Tampa, Florida that can help you select the best trust option for your needs. With so many options available, it can be easy to get overwhelmed. If you choose to establish a trust as part of your estate plan, you may still need to include a last will and testament as well as other legal structures to ensure your estate will be properly managed should you become too ill to make financial, legal, or medical decisions. Estate planning can involve many moving parts. The trust lawyers at The Reyes Firm in Tampa, Florida can help you craft an estate plan that best meets your needs.
Why Hire a Will Lawyer in Tampa, Florida?
Most estate plans will require that a last will and testament be included in the estate plan. While there might be template wills available online, a will lawyer in Tampa, Florida at The Reyes Firm can take the time to understand your family’s unique needs and situation and craft a will that specifically meets your needs. If you plan to use a trust as part of your estate plan, your last will and testament must work in concert with your trust. The Reyes Firm is a will law firm in Tampa, Florida that can help you with your estate plan every step of the way.
Contact the Wills and Trust Attorneys at The Reyes Firm Today
The wills and trusts attorneys in Tampa, Florida at The Reyes Firm can help you and your family with all your estate planning needs. Whether you need help selecting the right kind of trust for your estate plan, need help crafting a last will and testament, or need assistance finding an estate plan that can work in concert with your needs, The Reyes Firm can help you every step of the way. If you want to protect your legacy, and give yourself and your family peace of mind as you age, The Reyes Firm is a wills and trusts attorney in Tampa, Florida that may be able to help you.
