Estate planning is serious business in Tampa. In order to avoid unnecessary estate planning complications, the best advice we could give is to talk to a Tampa lawyer, but going into the conversation prepared is always your best bet. Here’s some information on what to take into consideration when thinking about the future your loved ones will have when you’re no longer around.
The first step in making sure your estate is properly planned is to streamline your assets and take an inventory. In matters this complicated, you want to be thorough, and you can start by making a list of all your bank and credit card accounts, but you should also take time to talk to insurance professionals about your policies, and making sure your contact information is up-to-date with all of the firms you deal with. Consolidating your assets and working with a single Tampa financial adviser is also not a bad idea.
The biggest hurdle to making sure you avoid complications is probably going to be gathering the necessary documents. It can be hard to know what you need, but your lawyer should be able to guide you through the process. A good estate plan should take into consideration not only the possibility of death, but also the possibility of incapacitation. Having a power of attorney named in writing should be one of the first things you do, so you can make sure that the process moves swiftly should the unthinkable happen.
In addition to power of attorney documentation, having a living will or a healthcare directive in place will help your loved ones remove the guesswork from their lives when you are unable to make the decisions on your own. Think about it, the situation is already a stressful one, adding more onto their plate when they’re trying to deal with an emotional situation is the last thing you want to do.
Finally, having a last will and testament in place is important to spell out, in writing, all the instructions that you want followed in the event of your death. Having a good executor and lawyer named in these documents can be key, so make sure you don’t overlook those.