Seven Important Items To Include In A Tampa Will
Unexpected events can happen that put you and your loved ones at risk. Estate planning helps protect you, your family, and your assets when they do. It involves putting different types of legal documents in place, one of the most important being a will. If you have not created one, or your will needs updating, take the time to do so today. Our Tampa estate planning attorney explains seven important items your will should include.
What To Include When Creating Or Updating A Will In Tampa
Consumer Reports states that less than a third of all adults in the United States have a will. Even if you have handwritten one or created a will online, it may not be legally valid in the Hillsborough County Court. Outdated wills are also a problem, as they may fail to address your current property and assets or include the people important in your life.
When creating a will, there are some basic provisions you need to consider. These include:
- The person you select to be executor.
Your executor is the person who will represent you in probate court proceedings. Among the important tasks they are responsible for include overseeing your estate, satisfying any creditor claims, and making sure distributions are made properly. Be sure and pick someone you are close to and can trust for this position.
- A list of all property and assets.
You will need a complete inventory of all property and assets in order for your will to be effective. This includes homes, cars, household belongings, antiques, jewelry, and anything of value, as well as money in bank accounts, shares in businesses or investments, and pension benefits.
- The names of beneficiaries and how your property is divided among them.
Provide a list of all those you wish to inherit from your estate, along with their contact information. To avoid potential future disputes, be specific when stating how property and assets are to be distributed among them.
- Any special requests you have.
You can include special requests in your will as well, such as desiring a certain type of funeral service, burial plans, or yearly memorials. You may also want to include distributions to your favorite charities or nonprofits.
- Designated guardians for minor children.
If you have small children, designate a guardian in the event something happens to you and the other parent. To ensure they are provided for financially, creating a trust is recommended.
- A residuary clause.
This indicates how any property or assets not specified in your will should be handled.
- Statement revoking any prior wills.
If you have created any other type of will in the past, including this statement can help prevent costly and time-consuming probate court disputes.
Contact Our Tampa Estate Planning Lawyer Today
For trusted legal guidance in creating a will in Tampa, reach out to Bubley & Bubley, P.A. Call or contact us online and request a consultation with our Tampa estate planning lawyer today.
Sources:
consumerreports.org/money/estate-planning/why-people-of-color-are-less-likely-to-have-a-will-a6742820557/#:~:text=Overall%2C%20only%201%20in%203,even%20if%20you’re%20young.
hillsclerk.com/court-services/probate-guardianship-and-trust
