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Putnam County Trust Lawyer
Helping Florida Residents Establish a Lasting Legacy
Talking about wills and estates can be uncomfortable. After all, making plans for what happens after you die can be very difficult. However, when you can leave behind a lasting legacy that will help promote the future well-being of your loved ones, you can take solace in the fact that your actions will positively impact the people you care about that endures beyond your death. This is best accomplished with an estate plan. To ensure your legacy provides your loved ones maximum benefit, your estate plan should contain a living trust.
What is a Trust?
A trust can be considered a special kind of contract where someone agrees to oversee and manage certain assets for the benefit of someone else. The person who agrees to manage trust assets is called a “trustee.” A trustee has legal rights to use the trust assets as long as they do so for the benefit of the trust.
An effective estate plan will use a revocable living trust naming you as trustee for life and other “successor trustees.” When you pass away, your successor trustee will have use and control over the trust assets. Trust assets are not subject to probate because they are legally “owned” by the trust. As a result, using a trust will simplify probate administration issues by keeping certain assets out of your testamentary estate upon your death.
Our trust attorneys can provide you with advice and services for the following:
- Trust formation
- Trust administration
- Marital trusts
- Spendthrift trusts
- Revocable living trusts
- Irrevocable life insurance trusts
What is the Difference Between a Will and a Trust?
A trust is a valuable estate planning tool alternative to a will. Trusts benefit from having an effect while you’re alive, unlike a choice that only becomes effective upon a person’s death.
If you are interested in getting a head start on planning your and your family’s future, you should contact a Putnam County trust attorney to discuss your legal options. At Hedstrom Law, P.A., we have years of experience handling matters relating to probate and estate planning. We are dedicated to providing you with quality legal counsel to help you reach an informed decision about the essential things in your life.
What is the Difference Between a Revocable Trust and an Irrevocable Trust?
A revocable, or living trust, is a trust that can be altered at any time by the trustee. However, the trust itself is susceptible to creditors if the trustee owes any judgment due to lawsuits and state & federal taxes in the event the trustee dies.
An irrevocable trust is the opposite; it is a trust that cannot be altered under any circumstances. However, this trust is typically shielded from creditors or taxes, freeing the beneficiaries of all tax responsibilities. However, irrevocable trusts can be difficult to set up, and requires an experienced attorney's services.
Why Call Our Putnam County Trust Attorneys?
- Free Consultations
- Relationship-Based Legal Representation
- Strong Work Ethic & a Proven Track Record
- Genuine, Experienced & Compassionate Counsel
You can find the guidance you deserve with one of our experienced Putnam County trust attorneys. At Hedstrom Law, P.A., we proudly provide Putnam County residents with comprehensive estate planning services, including matters related to trusts. We take our role as your advisor seriously. It is our job to ensure that you have the best information at your disposal when making an important decision.
Contact Hedstrom Law, P.A. today to schedule a FREE consultation with our trust lawyer in Putnam County!
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