Tampa Bay Area Trusts Attorney

I am estate planning attorney Mitchell Sherman. Since 1992, I have used my boutique firm, the Law Offices of Mitchell A. Sherman, Esq., to help clients include trusts in their estate plans. My personal attention can help you choose the right trust for you and your family.

Why Do I Need A Trust And A Will?

Everyone’s estate planning needs are different. Everyone needs a will to identify their heirs and personal representative. A trust works by transferring ownership of assets for the benefit of others.

A trust is often a good addition to a will. When you die and your estate goes through probate, assets passed on through your will directly could be subject to taxes, costing your loved ones a lot of money. Items placed in a trust do not go through probate and are not taxed. And if you become unable to take care of the trust yourself, someone else can take over.

Revocable Living Trusts Vs. Irrevocable Trusts: What’s The Difference?

Two of the most popular trusts in Florida are called revocable living trusts and irrevocable trusts. A revocable living trust works by placing assets into it during your lifetime. You can continue to control those assets and change what is in the trust as the trustee. Then, when you pass away, a new trustee will take over and take care of the assets for the benefit of the beneficiaries you choose, such as your spouse or children.

An irrevocable trust is similar, but once you fund it, you give up the ability to make changes. On the other hand, assets in an irrevocable trust are protected from estate taxes and some creditors. I will go over the different types of trusts available to you and help you pick the one that is best for you and your family.

Learn More About Trusts From A Central Florida Lawyer

Call me today to schedule a free virtual consultation about adding a trust to your estate plan. Call the Law Offices of Mitchell A. Sherman, Esq., at 727-616-0365 or send an email if you prefer. I charge a flat fee and do not bill you by the hour.