Trust Attorney in Largo, FL

At Preservation Law Firm, we help our clients secure their family's future through thoughtful, proactive estate planning. Central to our approach is creating and managing all types of trusts. These legal tools protect assets from various liabilities and reduce estate taxes. Trusts can also eliminate the need for probate and enable the smooth transfer of assets and property.

A trust can provide peace of mind, ensuring your assets are managed according to your wishes, both now and for generations ahead. Trusts play a vital role in comprehensive estate planning, especially in Largo and throughout Pinellas County, where Florida law provides unique opportunities for asset management. Working with a local attorney means you receive guidance tailored to Florida statutes and the specific processes of our nearby courts. This local knowledge helps you avoid common pitfalls and aligns your trust with state regulations.

If you want to create a trust or need advice on managing or updating an existing one, connect with our trust lawyer in Largo, Adam Rauman. With a strong background in finance and business law, he brings valuable insight to preserving legacies and safeguarding beneficiaries' interests.

To speak with our trust attorney in Largo and our services, call (727) 955-3872 or connect with us online. 

Types of Trusts in Florida & How They Work

A trust is a fiduciary arrangement that allows one party (the trustee) to hold assets on behalf of another party (the beneficiary). The trust's creator (the grantor) can dictate how and when to distribute assets to beneficiaries, making it a valuable tool for estate planning.

Florida's trust laws, outlined in the Florida Trust Code (Fla. Stat. Chapter 736), define requirements for valid trusts and detail what trustees must do to act in the beneficiaries’ best interests. Florida residents often use trusts to address concerns unique to our area, such as homestead rules and the state's approach to creditor protection. Choosing the right type of trust requires an understanding of your goals, the nature of your assets, and how local laws may apply.

Florida trusts serve different purposes. Below are the common types:

Revocable

Revocable trusts allow the grantor to make changes or cancel the trust at any time during their lifetime. Assets placed in a revocable living trust can pass directly to beneficiaries without going through probate, saving time and expenses. Placing assets in a revocable living trust may also help you qualify for government programs like Medicaid.

These trusts work well if you want flexibility and continued control while alive. Many Largo residents use revocable trusts to manage property transfers across generations while maintaining privacy, since trust terms generally remain out of the public record. When local families own real estate in more than one county, revocable trusts help streamline the process by allowing property to transfer without separate probate in each location.

Irrevocable

Irrevocable trusts are intended to be permanent. Once you put assets into this kind of trust, they are no longer under your control. This arrangement can minimize estate taxes, shield assets from creditor claims, and allow you to transfer property outside probate. The trade-off is that you cannot change the trust after it has been created.

Irrevocable trusts often serve those seeking asset protection, long-term care planning, or charitable giving benefits. In Florida, these trusts may also play a role in Medicaid eligibility and protecting wealth for beneficiaries. Because changes to an irrevocable trust usually require court approval or the consent of all beneficiaries, you need to weigh the lasting impact before moving forward. Working with a trust attorney in Largo ensures your plan addresses local requirements and takes advantage of state benefits.

Testamentary

Testamentary trusts are a specific kind of trust established through your will, which goes into effect after you pass. You set the terms of asset distribution in your will. This trust can manage assets for minor beneficiaries or adults with special needs.

Testamentary trusts can be especially helpful for parents or guardians in Pinellas County who wish to provide ongoing management of a child's inheritance, fund education, or protect loved ones facing disability. Local courts oversee these trusts after death, ensuring your instructions are followed. The flexibility of a testamentary trust allows Largo residents to address unique family circumstances while working within the Florida legal system.

Special Needs

If you or a loved one have ongoing financial support needs, a special needs trust can be the right choice. These trusts allow a beneficiary to use assets without jeopardizing eligibility for government benefits.

In Florida, special needs trusts help families provide care and extra security for someone with disabilities, while preserving access to programs like Medicaid or Supplemental Security Income. These trusts require precise planning, as improper structuring can impact eligibility. Having a trust attorney familiar with local and state guidelines gives you confidence that the arrangement achieves its goal—supporting your loved one now and in the future.

Trust Administration & Trustee Duties in Largo

Trust administration refers to the ongoing management and distribution of assets placed within a trust after its creation. In Largo and throughout Florida, this process must align with state law outlined in the Florida Trust Code. Trustees have a duty to act in the best interests of beneficiaries, keep proper records, and follow the written instructions of the trust document. Pinellas County courts expect trustees to adhere to a clear, transparent process, especially when overseeing local real estate, investments, and personal property. Trustees must provide regular updates to beneficiaries, handle any taxation matters, and address disputes promptly. Many families in Largo rely on the guidance of a trust attorney to ensure that every step of trust administration is done correctly. By working closely with a legal professional, trustees can avoid conflicts and costly mistakes, keeping the trust on track for the long term.

Florida-Specific Trust Laws & How They Affect Largo Residents

Florida has adopted a comprehensive set of trust laws unique to our state, directly impacting how trusts are created and enforced for Largo residents. The Florida Trust Code regulates issues like the minimum legal requirements for trusts, trustee appointments, and beneficiary rights. For example, homestead protections in the state may affect how you can transfer your primary residence into a trust. In Pinellas County, probate courts adhere to these rules when resolving disputes or reviewing petitions related to trust matters. Additionally, Floridians benefit from the lack of a state income tax, which means income from trust assets is generally subject only to federal tax, unless the trust produces income in another state with its own tax rules. Understanding these nuances allows you to make more informed decisions about how to structure your trust. Working with a trust lawyer in Largo who knows the regional and state requirements ensures your plan meets your goals and maximizes any local advantages under the law.

How the Largo Probate Process Interacts with Trusts

Largo residents often look to trusts as a strategy for avoiding probate, the court-supervised process of administering a deceased person’s estate. Trusts can bypass probate entirely for assets titled in the name of the trust, resulting in faster and more private distribution to beneficiaries. However, any property not transferred to the trust before death may still go through the Pinellas County probate court. This interaction means it’s crucial to fully fund your trust and review asset titles regularly in consultation with a legal advisor. In addition, while trusts can streamline inheritance and protect privacy, certain disputes or ambiguities may still wind up in probate court for clarification or resolution. By understanding how Florida’s probate process works with trusts, you can safeguard your legacy and give beneficiaries a more efficient path to their inheritance. Local guidance helps ensure your plan takes full advantage of these benefits specific to Florida and the Largo area.