Wills and Trusts Lawyers in Clearwater, Florida

The trust lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson helps clients with establishing trusts. A trust, like a will, is a tool used to pass on wealth to heirs. Unlike assets passed on to heirs through a will, assets passed on through a trust aren’t subject to probate court. This can save your family money in court fees, filing fees, and attorney’s fees for probate. Matters handled in probate court also end up on the public record. By avoiding probate court through the establishment of a trust, families can also protect their privacy. There are other benefits to using a trust instead of using a will. A trust can be established to benefit an heir with special needs. If you have a loved one who receives Medicare benefits, inheriting wealth can result in the loss of benefits. By establishing a special needs trust, families can ensure that a loved one continues to access important Medicare benefits, while having a little extra pocket money to care for other needs. In some cases, trusts may be able to offer additional tax benefits, though these trusts often require that a person permanently transfer assets into the trust. Do you have questions about whether a trust might be right for you? The trust lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson may be able to help.

Yet, establishing a trust may not be the best option in all situations. A trust may have maintenance fees because a trust requires a financial advisor or another party to manage the assets in the trust. While probate can be costly for some, if your estate is small or your situation not complicated, you may not need to go through probate, or the costs may not be as high as maintaining a trust. Trusts are usually best utilized by high-net-worth families or families with special needs individuals who have special circumstances. Do you have questions about whether you should establish a trust or write a will? The trust lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson may be able to help you decide. Our trust law firm works with clients with a range of needs. We can help you with a wide range of estate planning tools.

There are many different types of trusts. There are living trusts, revocable trusts, irrevocable trusts, and special needs trusts, to name a few. Some trusts allow you to continue to access assets while you are alive, and the assets are passed on to named heirs when you pass away. Other types of trusts may involve a transfer of wealth to another party while you are alive. The type of trust you’ll need will depend on your individual circumstances. For example, if estate tax concerns are high, an irrevocable trust may be one option. If you need access to your wealth while you are alive, but also want to help your family avoid probate, a living trust might be a better option. While it is great to read and research the different types of trusts out there, the best way to determine which trust is right for your situation is to speak to a trust lawyer in Clearwater, Florida. The Law Office of Carol A. Lawson is a trust law firm that may be able to help you. 

Wills Lawyer in Clearwater, Florida

The Clearwater, Florida wills lawyer at the Law Office of Carol A. Lawson can help you write your will, review a will you have already written to make sure there are no issues, and can assist you with a range of estate planning needs. A will is a legal document that a person draws up before they pass away to name heirs and to specify which assets go to which heir. After an individual passes away, wills go through the probate process, where the will is validated by the court, debts and taxes are paid, and assets are distributed in accordance with the deceased person’s wishes. While there is online software that may be able to help you write your will, it is important to understand that every family’s situation is unique. If you have questions or concerns about your will, it may be a good idea to have your will reviewed by a wills lawyer in Clearwater, Florida like the Law Office of Carol A. Lawson. If a will is poorly written or improperly signed, this can lead to disputes after a person dies and could also result in a long, drawn out, and potentially costly probate process. A wills lawyer can assist you with writing a will that takes into account all your wishes so that your legacy is preserved.

For example, there are many provisions a person can include in a will, and provisions that may be important to include. If you have minor children, you may need to specify whom you would like to be their guardian. If you plan to pass assets to a minor child through your will, you may also want to speak to a wills lawyer to review the options you may have to ensure that your minor child’s finances will be properly managed. If you have pets, you may want to specify a person to care for them. Because pets are considered property, some pet parents choose to include money tied to the care of the pet to ensure the pet is cared for. A will can include specific instructions for your funeral.

Issues can arise in probate if your will has idiosyncratic elements. For example, if you choose to disinherit a child, or if you plan to make a large donation to a charitable cause instead of passing assets on to family, having a wills lawyer in Clearwater, Florida review your will can potentially prevent disputes or issues during probate. The wills lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson works with clients with a range of estate planning needs. We can review your situation, help you write your will, or guide you if another estate planning tool is better for your needs.

If you pass away without a will, your estate will pass to heirs through your state’s intestate laws. These laws may not be in accordance with your wishes and probate could potentially be more complex for your family if you do not have a will. The wills lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson may be able to help you if you need help with your will. 

Contact a Wills and Trusts Lawyer in Clearwater, Florida Today 

There are many options when it comes to estate planning, and every family’s needs are unique. Modern families can be more complex than ever, with step-children, former spouses, and blended families. Some individuals take in adopted family under their wing. Even though these people aren’t connected by blood and wouldn’t be considered heirs under intestate law, they can be considered in a will. The wills and trusts lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson can help you with your estate planning needs. Whether you just need help writing your will, or need assistance navigating the establishment of a trust, the wills and trusts lawyer in Clearwater, Florida at the Law Office of Carol A. Lawson is here for you.