Protecting Your Assets Through A Trust
A comprehensive estate plan contains several different elements. A trust can be a powerful tool to accomplish your wishes, avoid probate and mitigate the tax burden on your estate. If you’re considering a trust, an experienced lawyer can help you develop an overall strategy that accomplishes your objectives.
At my firm, The Law Office of Nancy J. Oset, I offer more than 25 years of experience handling Florida estates. I assist a diverse group of clients who seek to protect their assets and transfer them easily when the time comes. After developing a clear understanding of your needs, I can outline your options and explain how trusts, wills and other estate planning documents can put you and your loved ones in the best position possible for the future.
Comprehensive Guidance On Trusts And Other Estate Matters
By working closely with individuals and families on wills and other estate planning documents, I am committed to helping Floridians address estate-related issues such as:
- Trusts – Though some people are unfamiliar with trusts, they serve many functions for clients in all income brackets. Whether you’re looking to limit tax liability, fund a charitable cause or direct how your assets will be spent, I can show you how a trust might fulfill your needs. One popular option is a living trust, which allows people to not only place their assets in a trust but also to use them for the rest of their lives. At the time of their death, the remaining property is passed automatically to designated beneficiaries rather than going through a probate process that can last for months or even years.
- Tax issues – Florida no longer has an individual estate tax, though large estates within the state could be subject to federal estate tax liability. If this is a concern, my firm can advise you on the steps you can take now to reduce the potential estate tax burden. Sometimes, people underestimate the value of the property they own, so even if you think you’re close to the exemption amount ($5.6 million for an individual in 2018), it’s important to seek counsel from a qualified adviser.
- Guardianships – Parents of minor children should always take time to express their guardianship preferences if their children become orphaned. I will outline the legal obligations associated with this role and prepare the relevant documents for you.
For these concerns and others, you can count on me to find solutions that are tailored to your specific circumstances.