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Strategic Counsel Law Group, L.C. Tampa Estate Planning & Probate Attorney
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End Of Year Estate Planning In Tampa

EstPlanFam

The holidays come quickly. Amidst all the hustle and bustle surrounding the season, there are some important matters that need attention. Our Tampa estate planning attorney recommends steps to take now that can help ensure you and your loved ones are protected in the year ahead.

Conducting An End of Year Inventory

The holidays provide the perfect opportunity for looking back, reflecting on all that has happened, and considering what you want in the year ahead. Conducting an informal end-of-year inventory can provide much-needed perspective. It also plays a vital role in estate planning.

A will is one of the most basic yet important estate planning documents. It conveys your final wishes in the event of your death and acts as a guide through Hillsborough County Probate Court proceedings, which are generally required in settling your estate. In order to be valid, your will should contain an updated inventory of all property and assets. Make sure yours includes:

  • Homes, land, or other real estate sold or acquired over the past year;
  • Any cars, campers, or recreational vehicles sold or purchased;
  • Inheritances, collectibles, and other belongings that have personal or financial value;
  • Any changes over the past year in bank account balances, investments, or your income.

Once you have made your inventory, use it to create or update your will and other important estate planning documents in Tampa.

Review Other Changes Over The Past Year

The proceeding months may have brought a variety of changes, not only to your finances but also to your relationships. These changes can have major impacts on your will and other Tampa estate planning documents, and it is important to carefully review them each year.

One of the first places to start is with your personal representative. Under the Florida Statutes, this is someone designated in your will to act as a guide through probate proceedings. Make sure the person you select is someone you trust and capable of performing the duties required. Other changes to consider include:

  • Changes in marital status: If you or any of your loved ones got married or divorced in the past year, make sure your will addresses this.
  • Births and deaths: Make note of any births in your family during the year, as well as loved ones who may have passed.
  • Changes in relationships: You may have grown distant from some friends or family members over the past year while becoming closer to others.
  • Changes in circumstances: Changes in your own circumstances and the problems or good fortune of loved ones in the past year could potentially impact your will.

Request A Consultation With Our Tampa Estate Planning Attorney

Amidst the hustle and bustle of the holidays, take time to review the past year and make changes in your estate plans as needed. At Strategic Counsel Law Group, L.C., we help you put the required documents in place to protect you and your family. Give us a call or contact us online and request a consultation with our Tampa estate planning attorney today.

Sources:

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

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Index&Title_Request=XLII

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