Spring Cleaning? Five Tips To Streamline Estate Planning In Tampa

Spring offers the opportunity to do a thorough housecleaning, getting rid of unwanted items and reorganizing others. Sorting through personal documents as part of spring cleaning can provide peace of mind and provides the perfect opportunity to review your estate planning documents. Our Tampa estate planning attorney offers tips to help streamline the process.

What Should Be Included In A Tampa Estate Plan?

Going through closets, cabinets, and drawers is a time-consuming task and one that is easy to put off. Including this as part of your spring cleaning can help you stay organized and better prepare for any unexpected situations that may arise.

Take this time to organize your estate plans and to consider any changes you may need to make. The following are some of the basic documents that should be included as part of your Tampa estate plan:

• A last will and testament: Under the Florida Statutes, a will conveys your final wishes, provides an inventory of all your property, assets, and debts, designates beneficiaries, and determines how property and assets are divided among them.
• Powers of Attorney (POA): A POA authorizes someone you trust to make important financial and business decisions on your behalf in the event you are unable to make them yourself.
• Advance directives: In the event you are incapacitated due to an injury or illness, advance directives detail your wishes regarding medical care and any life-sustaining measures you desire.
• A trust: Putting property and assets into a trust can help to protect minor children or vulnerable adults. It can also protect you against lawsuits and creditor claims. It can also entitle you to Medicaid benefits to help offset nursing home care costs.

Streamlining Your Tampa Estate Plans

Spring is a good time to get organized. As part of your spring cleaning, take these steps to streamline your Tampa estate plan:

1. Keep your will and other important estate planning documents in a safe, private location.
2. Review all of these documents carefully and make sure they accurately represent your situation. Making yearly updates to reflect changes in financial status or relationships is a good idea.
3. Inform a few trusted others of your wishes in regard to estate planning and where pertinent documents are kept.
4. Use this space as a central location for keeping other important items, including your birth certificate, property titles, life insurance policies, and benefit statements.
5. Designate all bank accounts as payable upon death, which bypasses Hillsborough County Probate Court proceedings. This allows loved ones to easily access funds for funeral expenses or other costs.

To Request A Consultation, Contact Our Tampa Estate Planning Attorney

 Estate planning in Tampa helps to ensure you are protected in the event the unexpected happens. Spring is the perfect time to create, update, and organize these documents.

To get the experienced, trusted legal guidance you need in completing important estate planning tasks, contact Strategic Counsel Law Group, L.C. Request a consultation with our Tampa estate planning attorney today.

Sources:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html

medicaid.gov/

hillsclerk.com/court-services/probate-guardianship-and-trust