The standard for protecting your assets is not based on the value of your portfolio. Rather, it is based on not wanting to lose the wealth you worked hard to accumulate. One way to do this is to get an asset protection trust from a Tampa, FL law firm.
As much knowledge as you expect the attorney to have, you should also understand the reasons for having the right trust. Here are three benefits to choosing this form of asset protection.
1. Protection from Lawsuits and Creditors
America has a reputation for being litigious. Legal bills can mount from a lawsuit brought by individuals or creditors and drain your financial accounts. An asset protection trust will not only shield your bank accounts but also your home and vehicle.
2. Family Avoids Probate Court
Your family is another reason to consider getting an asset protection trust in Tampa, FL. Doing so can help them avoid the frustrating hassles of the probate process. After your death, the trustee can immediately distribute assets to your beneficiaries.
3. Prevent a Tax Bill to Beneficiaries
Protecting your beneficiaries from an inheritance tax is another advantage to establishing this type of trust. Assets that your children inherit are placed in this trust and are not included with estate taxes.
Trust an Experienced Law Firm with Your Assets
Financial security is important for you and your loved ones. The Greenberg Law Firm can guide you through the complex issues of setting up an asset protection trust in Tampa, FL. Contact them at https://barrygreenberglaw-tampa.com to schedule a consultation.
