Trusts & Estate Planning

At McCarthy, Summers, Bobko, Wood & Sawyer, P.A., a large percentage of our practice is devoted to estate planning and estate administration.  One of our attorneys, Steven J. Wood, has received Florida Board Certification as a specialist in Wills, Trusts & Estates Law.  Each of our partners practicing in this area,Steven J. Wood, Kathryn C. Bass and Kenneth A. Norman, have in excess of 15 years of experience, and together they have in excess of 70 years of experience.

We address all aspects of estate planning and estate administration by drafting wills and trusts, administering estates and trusts through probate, and dealing with issues to plan for tax minimization and asset protection.  Clients looking for solutions in trusts and estate planning are varied, ranging from seniors and retirees to business owners and families with young children.

Estate Planning Techniques

Our attorneys utilize a number of techniques in planning estates which may include, but are not limited to:

  • Wills
  • Joint Ownership Planning
  • Life insurance trusts
  • Grantor Retained Annuity Trust
  • Florida Homestead Planning
  • Estate, Gift & Income Tax Planning
  • Retirement Benefits
  • Business succession plans
  • Dynasty Trusts
  • Private Foundations and Charities
  • Living Trusts
  • Distribution from Retirement Plans
  • Planned Charitable Giving
  • Probate and Trust Proceedings Representation
  • Asset Protection Planning
  • Estate tax reduction techniques and structures (family limited partnerships, etc.)

Florida Homestead Act

The Florida Homestead Act provides Florida residents with protections under Florida law in regards to reduced property taxes, asset protection, and protections from creditors and beneficiaries for surviving spouses and minor children. However, the Florida Homestead also has restrictions on how a primary residence may be inherited. An estate planning attorney can assist clients in the most advantageous application of the Florida Homestead Act to their estate.

Trusts

Trusts are beneficial techniques for reducing estate taxes as well as affording asset protection from creditors of beneficiaries. Trusts may also be excellent vehicles for proper management and investment of assets, however, because there are numerous kinds of trusts, and because the value of a trust also depends on how well it is written, the skill of an experienced estate planning attorney is invaluable in establishing an appropriate and effective trust. In many instances the attorney may also suggest drafting a will to cover assets that are not included in the trust and are therefore unprotected.

For assistance in Trusts and Estate Planning, please contact our office to arrange for a consultation with one of our estate planning attorneys.