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Estate Planning and Wealth Management

Estate Planning Attorneys serving Sarasota and Bradenton, Florida

We know the importance of estate planning to protect you and your heirs

Creating a good estate plan is critical to ensuring the smooth and easy transition of your assets and treasured personal belongings to the next generation of your family. From large and complex estates that include investments and real property to small personal estates, everyone benefits from a comprehensive estate plan. At the Sarasota law firm of Lyons, Beaudry & Harrison, P.A., our attorneys help you draft documents that are custom-tailored to your needs and wishes.

The many advantages to proper wealth management

For those with large and complex estates, including investments, property or a business, wealth management is an essential part of estate planning. These types of estates are most likely to yield significant estate tax at both the federal and state levels. When you create a sound estate plan it makes for a smoother transition, and it can save your heirs from the financial burden of those taxes.

Solid estate planning — including the creation of wills, trusts, powers of attorney, healthcare directives and living wills— has many advantages:

  • Avoiding probate. Without a good estate plan, your assets go to probate once you pass away. A judge decides how your assets are divided, a process that takes months to complete.
  • Reducing estate taxes. Wealth management arrangements — such as trusts or family partnerships — can reduce the amount of taxes your heirs need to pay during the transfer of your estate. This includes both federal estate tax and local taxes.
  • Managing incapacity issues. Having a wealth management and estate plan also protects you if you should become medically incapacitated and unable to make decisions for yourself. It allows assets to transfer smoothly and provides the necessary funds for your medical care.

Detailed attorneys handle every aspect of your Florida estate plan

Our team has decades of experience in estate planning and wealth management. We have witnessed time and again the common challenges that occur when the process is done incorrectly. We help you craft a solid estate plan that gives you and your heirs peace of mind that everything will be taken care of after you pass away.

Establish a Trust by Working with a Reputable Sarasota Trust Administration Lawyer

A trust is a legal document that puts some of your assets, such as investments, property and cash, under the management of someone else upon your death. This is useful in estate planning for providing lasting income for family members, heirs and charities. It is also useful for avoiding estate taxes, as the assets in the trust are not formally a part of your estate. To make sure that you get the most out of your trust, work with the experienced trust administration lawyers at Lyons, Beaudry & Harrison, P.A. in Sarasota County, Florida. Our knowledgeable attorneys help you draft a trust that meets your needs, while helping trust administrators avoid unnecessary disputes.

The different types of trusts

The fundamental purpose of a trust is to manage and distribute wealth. Some trusts expire with the creator’s death, while others continue to function long after. A trust is a useful estate planning tool for anyone with significant assets and long-term goals for their wealth. In Florida, trusts worth less than $50,000 are not considered economically viable.

Trusts need to be administered properly to avoid trusts litigation. Working with an attorney, you can find the option that works well for your estate plan. This might include:

  • Revocable trust. With a revocable trust, your assets become part of the trust, but you maintain control of them and make any changes you see fit.
  • Irrevocable trust. With an irrevocable trust, your assets are transferred to the trust and are no longer yours. You are not  able to make changes to the trust without the consent of its beneficiaries, but your estate does not have to pay estate taxes on those assets when you pass away.
  • Charitable trust. With a charitable trust, one or several charities are named as beneficiaries.

Well-crafted trusts are more likely to prevent disputes

The validity of a trust may be disputed for the same reason as a will — usually because someone is seen as having undue influence over the person who created it or the person who created the trust was deceived by a third party. In addition, trusts disputes may happen if the trust is poorly written or constructed that the trust fails to express the intent of the grantor or requires court action to interpret the intent of the grantor.

Meet with an experienced Sarasota estate planning attorney today

Call 941-444-6407 or contact us online to make an appointment with the estate planning and wealth management attorneys at Lyons, Beaudry & Harrison. Our offices are located on Main Street in Sarasota in the Ellis Bank Building. Handicapped access and ample parking are available onsite.

Office Location
  • Sarasota Office
    1605 Main Street
    Suite 1111
    Sarasota, Florida 34236-5840
    Phone: 941-444-6407
    Fax: 941-954-1484