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Family Wealth Transfers

Estate Planning Firm in Tampa Advises on Family Wealth Transfers

Knowledgeable Florida attorneys create trusts and other legal instruments

Depending on your circumstances and goals, a comprehensive estate planning program might start decades before you pass away and continue after you are gone. With offices in Tampa, Westchase Law P.A. advises clients on the various methods of transferring wealth among family members. Using wills, trusts, planned gifts and other methods, our attorneys help Floridians and others accomplish a wide array of objectives. Whether you’re looking to reduce tax liability, avoid probate, shield assets from creditors or direct how funds will be used, we can develop a strategy that best serves your needs.

Dedicated lawyers use various methods to shift assets among generations

Our Gulf Coast estate planning attorneys assist high-net-worth clients and anyone who is concerned about making sure that the people they love receive everything they are entitled to. We are creative legal advisers who use various methods to distribute assets among family members, such as:

  • Trusts — In many instances, trusts are effective vehicles for transferring family wealth because they are flexible enough to meet the parties’ specific needs. Living trusts are popular because they allow someone to have access to their assets for the rest of their lives but shift ownership to named beneficiaries immediately upon their death. Life insurance trusts, where the proceeds from a policy are placed into a trust rather than paid directly to a beneficiary, also bypass probate while giving the trust creator a chance to affect how funds are used.
  • Stock transfers — Passing along ownership of a business might lead to difficult tax and legal questions. If you’re looking to shift stocks or other business interests to a family member, early action could be pivotal. Regardless of the size or scope of the operation, we’ll discuss options such as inter vivos (“during life”) transactions and other effective ways to manage the transition as smoothly as possible.
  • Wills — As we prepare wills for clients, we are always aware of potential tax consequences, especially if the estate might exceed the estate tax threshold. We can also help head off potential conflicts between heirs and other problems that might occur with substantial or complex assets.
  • Family foundations and charitable trusts — For many people, there is no better way to leave a lasting legacy than to support a charitable cause dear to them. Should you wish to launch or continue a family foundation, we’ll outline the legal arrangements that need to be made. Our lawyers are able to outline how a charitable trust can continue to generate income for a worthy recipient years after you have passed away.
  • Special purpose trusts — Trusts are versatile legal instruments that serve many purposes. Parents who are concerned about the financial support of a special needs child can use a trust to fund their son’s or daughter’s expenses after they are gone. Other trusts, such as generation-skipping and A/B trusts, have been designed to limit tax liability when spouses or parents die. We’ll examine the assets in question to determine if you or your heirs might benefit from structuring your estate in this way.

Regardless of the specific property involved, we are committed to protecting your family’s financial interests and helping you navigate difficult issues successfully.

Contact an established Florida lawyer regarding plans for a family wealth transfer

Westchase Law P.A. assists clients on Florida’s Gulf Coast and elsewhere who seek counsel relating to the transfer of assets among family members. From our office in Tampa, we offer personalized advice suited to your particular goals. Please call 813-563-1491 or contact us online to make an appointment to discuss your situation.

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Our Office
  • Tampa Office
    12029 Whitmarsh Lane
    Tampa, Florida 33626
    Phone: 813-490-5211
    Fax: 813-463-0187