Six Steps In Creating A Will In Tampa
A last will and testament, known simply as a will, is one of the most important legal documents. In the event of your death, your will acts as a guide through probate and determines how your property and assets are divided. If you have been putting off creating one or have concerns about the process, our Tampa wills attorney is here to help. Use the following six steps as a basic guide.
Six Important Areas To Address In Your Will
A will is something everyone needs. It dictates how matters are handled in the event of your passing and whether property and assets are passed on to designated benefits. Unfortunately, Gallup polls indicate close to 50 percent of all adults do not have a legally valid will in place. If you have been hesitant in creating one or unsure of the process, start with these six steps:
- Select someone to act as your personal representative.
The first step involves selecting someone you trust to act as your personal representative, who will represent you throughout probate proceedings. In addition to being someone you can count on, pick a person who has enough basic knowledge or skill to fulfill this role and is physically able to attend hearings in the Hillsborough County Probate Court.
- Identify all property, assets, and debts.
After determining a personal representative, make a list of all property and assets that must go through probate before being distributed among your heirs. This includes homes, cars, personal items, shares in businesses, and money in bank accounts. Keep in mind that life insurance and property kept in a trust are exempt from probate.
- Identify beneficiaries.
A will gives you the right to determine who inherits from your estate. Under the Florida Statutes, dying without a will is referred to as ‘dying intestate.’ This means that rather than choosing beneficiaries, state laws determine rightful heirs.
- Detail how property is divided between them.
After designating beneficiaries, specify how property and assets are divided among them. Making your wishes clear helps prevent legal battles later on.
- Discuss provisions in your will with those who are likely to be impacted.
Death is a sensitive subject for most people. While these conversations may be awkward, it is important to make family and friends aware of provisions in your will, particularly if they are likely to be impacted by it.
- Keep your will in a safe, easy-to-reach place and update it regularly.
Once you create your will, keep it in a safe place. However, your personal representative and others you trust need to know where it is located in the event of an emergency.
Contact Our Tampa Wills Attorney
If you have been putting off creating a will or need to update an existing will, request a consultation at Strategic Counsel Law Group, L.C. We provide the trusted, experienced legal guidance you need throughout the process. Give us a call or contact our Tampa wills attorney online today.
Source:
news.gallup.com/poll/351500/how-many-americans-have-will.aspx
