It can be hard to admit that at some point your life will end and your family members will need to handle your affairs in your absence, but taking early and proactive responsibility for your estate will ensure that everything is cared for properly after your death. It’s important to speak with a Tampa law firm who understands the rules in Florida.
What is a Last Will and Testament?
Commonly known as a Will, this document clearly and concisely conveys all of your wishes regarding your finances, family members, and estate holdings. Writing a Last Will ensures that you leave behind the items of your choosing to the right people and that any children and spouse are properly protected and supported. You need to be sure to include the following items in a Last Will so that all of the most important “What Ifs” are covered.
Choose and Name an Executor
Writing a Will won’t do much good if you don’t elect a trusted person to carry out your last wishes. Your executor should be someone you trust with your most personal matters and can rely upon to respect your plans. It’s also helpful for that person to be skilled with organization and numbers, since the financial elements of Last Wills can become rather complex.
When you pass away, who should your property go to? Depending on the size of your family and your marital status, you may have a different answer than someone else your age. Most people allocate money and assets to spouses, children, relatives, and sometimes close friends. You simply list who receives what so there is no potential for confusion.
Protect Your Children
If your children are still young, you want to make provisions for who will become the guardian of your children if something were to happen to you. Even if you are married, this is an important step because it ensures everything is covered in case your spouse is not available to support your children either.
A Tampa estate planning lawyer can help you navigate the legalities of this paperwork to make sure it is properly signed and witnessed to maintain its legitimacy.