How To Update Your Will During The Summer Season

The summers are often filled with gatherings of family and friends. Unfortunately, busy schedules and distance may prevent us from getting together at other times of the year. While you reacquaint yourself, keep in mind that changes in your family and relationships could prompt needed updates to your will. Our Tampa estate planning lawyer explains changes to consider this summer season.

Do You Need To Update Your Personal Representative?

Relationships with people you were once extremely close to can go through changes throughout any given year. This can have major impacts on your will.

Your will serves as a guide through Hillsborough County Probate Court proceedings. As part of creating one, you must name someone to act as a personal representative of your estate. Most people choose a close friend or family member to fill this important role.  In making periodic updates to your will, carefully consider the following:

• Are you and the person you selected as personal representative still close? If not, they might not be aware of your current plans, wishes, or other matters important to you.
• Do they live nearby? Your personal representative is required to complete a variety of probate court tasks. It is better if they live in the area.
• Are they in good health? Mobility issues, chronic illness, and other impairments create serious challenges in fulfilling their role.
• Do they have time and energy to devote to the task? Suppose they have taken on additional responsibilities over the year, such as a new job or starting a family. In that case, they may not have the time or energy to act as your personal representative.

Making Other Changes In Your Will

In addition to changes in your relationship with the person you previously selected as a personal representative, the summer days provide the perfect opportunity to reassess changes in beneficiaries over the years. Under the Florida Statutes, beneficiaries are those you select to inherit from your estate.

Any type of error or glitch in terms of beneficiaries could jeopardize the rights of those you love, delay distributions, and open your will to being contested. To ensure it is updated and that the process process runs smoothly, consider the following changes:

• Any marriages, divorces, or separations over the past year;
• Any births or adoptions;
• Any life-threatening health conditions or other issues resulting in serious physical or mental impairments;
• Any deaths among your beneficiaries and other family members.

All of the above can have major impacts on your will and the summer days provide the perfect opportunity to reassess the situation. When making updates to a will and other estate planning documents, also consider any major financial changes, such as increases in income or the purchase or sale of property.

Contact Our Tampa Estate Planning Lawyer

At Bubley & Bubley, P.A., we provide the trusted legal guidance you need in creating or updating a will and other estate planning documents. Contact our Tampa estate planning lawyer to request a consultation today.

Sources:

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

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0731/Sections/0731.201.html#:~:text=(2)%20%E2%80%9CBeneficiary%E2%80%9D%20means,the%20estate%20has%20been%20satisfied.