Tampa Estate Planning Attorney Services
The very best course for the future is to plan for the future. If you don’t have a set plan in place, Uncle Sam, the State Treasury or your attorney may be the happiest beneficiaries when you pass on. Suncoast Estate Planning in Tampa specializes in ways for your family to avoid unnecessary taxation and high payments to the many hands holding out at the time of your passing.
Why Estate Planning is Necessary
Life is unpredictable and completely out of our control. A proper estate plan can at least ensure that your state is secure whether large or small and your assets fall into the right hands.
For those starting out on the road to Estate Planning, the best thing you can do is meet with a professional and go over your wishes. An excellent way to start is with an estate planning attorney in Tampa. Many small or big issues can arise during your lifetime and having a solid list of assets and a plan in place will eliminate a great deal of anxiety, confusion and uncertainty. Not only for you, but for your loved ones. Proper estate planning in Tampa doesn’t have to cost a fortune and it puts you in control of the division of your assets that you want to go to your family.
The course for this planning includes a power of attorney, a living will, advance health care directives, different trusts (depending on the type of assets you own), and a last will and testament. As circumstances in your life change, your estate plan will need to be altered as well. Your plan should be reviewed every three years to make sure it is working as you intended and meets your needs and wishes at all times.
The most important part of estate planning is the creation of a will. If you die intestate, without a will, your property and assets will go into probate while your state determines how they shall be distributed. If you have dependent children, it’s vital to select guardians for them if something should happen to you and your spouse.
Another important part of Estate Planning is to name an Executor for your Estate in your will. This person is in charge of distributing your property at your demise. Usually this is a spouse, trusted friend or an older child. This person overlooks the work of an attorney at the time of your death and arranges for the distribution of your property.
You should always avoid do-it-yourself estate planning. Even though it may be tempting to do it yourself online, there are potential pitfalls you can’t oversee such as improper execution, probate court challenges, and outdated information. The documents are inexpensive at first but might cost your family thousands after your death if you do not have a high-quality and legally sound plan in place.
Even if you do not have a large estate, it’s best to do meet with a Tampa estate planning attorney for peace of mind and that of your loved ones. The initial phase of estate planning and filling out an estate planning checklist can take a little while. However Suncoast Elder Law Estate Planning can help you. You’ll find that once you have an estate plan, it’s easy to update it every three or five years if there are any changes.
Contact us today for all your estate planning needs .