St. Petersburg Wills & Trusts Attorney

Understanding Wills: Your Estate Planning Foundation

A typical disposition of a moderately sized estate can be handled with a will. Even a person with a small estate can benefit greatly from having a will because it makes clear what your wishes are and allows for a means of honoring them.

You can designate your:

• Personal representative, which is the person who carries out your wishes once you have passed away
• Guardians for minor children if neither you nor the child’s parent survives
• Trustees for assets passing to minor children.

Contact our St. Petersburg wills & trusts attorney to request a consultation. Don't wait, get started on drafting your will or creating a trust today!

Trusts Explained: Secure Your Assets in St. Petersburg

There are many types of trusts. Revocable or irrevocable living trusts may be something you wish to consider if you desire privacy, own property in multiple states, or hope to avoid probate altogether.

Certain trusts may be useful in saving federal estate taxes (inheritance taxes). These trusts are often used in a married couple scenario, allowing the shelter of a large estate from federal estate taxes. Failure to use them can leave families paying large amounts of taxes unnecessarily.

The special needs trust is a useful device when you have a desire to leave money for the benefit of a person with a disability without interfering with their government benefits such as Medicaid. A knowledgeable elder law attorney can help preserve the client’s qualification for Medicaid or other forms of public assistance.

Wills vs. Trusts: Choosing the Right Estate Plan in St. Petersburg

The main difference between a will and a trust is when they become effective. A will goes into effect after you pass away, but a trust is valid once created.

A will maps out who will receive your property and appoints a person to carry out your wishes. You will be able to name a guardian for children and specify preferred funeral arrangements.

A trust can begin to distribute property before one passes. It will not pass through probate after you pass which can save time and money.

Do You Need a St. Petersburg Attorney for Your Will or Trust?

You do not need an attorney to create a will or a trust, but many people do choose to work with one to ensure that everything is set up correctly. If your estate is simple and you don't have children, it might be something you can do on your own. If you have significant assets that you want to protect, children to ensure are protected when you leave, or any other complexity, you should put your case in the hands of a reliable attorney.

Role of a Trust Attorney in Estate Planning

A trust and will attorney is a professional who can help you set up the needed paperwork to plan your estate. A trust lawyer will set it up on your behalf and provide the relevant legal assistance that you need to ensure that you properly name the trustee in charge of your estate.

Integrating Wills and Living Trusts: A Complete Estate Strategy

Yes, it is possible to have both a will and a living trust in Florida. These are two separate estate planning documents that serve different purposes. Having both a will and a living trust can provide a comprehensive estate planning strategy. The will can address any assets that are not included in the living trust or that were inadvertently left out. It can also serve as abackup plan to distribute assets that were not properly transferred to the trust during your lifetime.

However, it is essential to ensure that the terms of your will and living trust are coordinated and do not contradict each other. Working with an experienced estate planning attorney in Florida at HKH Elder Law can help you create a comprehensive plan that includes both a will and a living trust, ensuring that your wishes are properly documented and your assets are protected.

Local Estate Planning Resources in St. Petersburg

Living in St. Petersburg, you have access to a variety of local resources that can assist you in your estate planning journey. The City of St. Petersburg offers numerous community services and information that can be invaluable when planning your estate. Additionally, the Pinellas County Government provides resources and support for residents, including information on property records and tax assessments, which can be crucial when setting up a will or trust.

One common concern for St. Petersburg residents is the impact of hurricanes and other natural disasters on their estates. Ensuring that your will or trust is up-to-date and securely stored can provide peace of mind in the event of an emergency. Our attorneys understand the unique challenges faced by locals and can help you create a robust estate plan that takes these factors into account.

Another local consideration is the vibrant real estate market in St. Petersburg. Whether you own a historic home in Old Northeast or a modern condo downtown, our attorneys can help you navigate the complexities of including real estate in your estate plan. We are familiar with the local market and can provide tailored advice to ensure your property is protected and your wishes are honored.

At HKH Elder Law, we pride ourselves on our deep understanding of the St. Petersburg community and its unique needs. We are here to help you create a comprehensive estate plan that addresses your specific concerns and ensures your legacy is preserved. 

Consult with our Trusted St. Petersburg's Will & Trust Lawyers

Contact HKH Elder Law today to talk to an experienced St. Petersburg trusts & wills attorney that can help you decide whether a will or trust is the best option for you.

Visit our lawyer reviews to see why clients choose our law firm when they need the best trust and will lawyers near them.

For expert will and trust guidance in St. Petersburg, call our dedicated attorneys at (727) 240-2350.

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