Changes In Your Family That Prompt Changing Your Estate Plan In Tampa
Having a family of their own is a lifelong dream for many people. It provides strong emotional bonds and a means to carry on cherished traditions. Estate planning helps ensure your family is provided for, no matter what the future might hold.
Our Tampa estate planning lawyer can guide you through the process. We explain common changes in your family that prompt changing your estate plan and the types of documents to consider putting in place.
Addressing Family Changes In Your Tampa Estate Plan
Preparing for the unexpected is important for everyone, but particularly for those who have families of their own. You want to ensure those you love have what they need and are provided for. The best way to do that is through estate planning.
Under the Florida Statutes, estate planning helps to protect the rights of families and others involved in the event of death or incapacity. Once you have created an estate plan in Tampa, be sure to update it regularly. The following are common changes that may occur over the course of raising your family, which should be reflected in updated estate planning documents:
- Buying a home: As one of your biggest investments, you want to ensure it is protected now and in years to come.
- Starting a business: Increasing numbers of people are becoming entrepreneurs. Along with making sure your family profits from your ventures, estate planning can also help reduce liability.
- Having a child: Providing for children and making sure they are protected no matter what the future holds are primary goals for parents.
- Dealing with the loss of a loved one: Whether through death or divorce, the loss of a loved one is always difficult. In the aftermath, make sure your estate planning documents address these changes.
- Suffering serious health conditions: There are documents we can help you put in place to provide for your future and address the type of medical care you want.
Which Tampa Estate Planning Documents Are Right For You?
Whether you need to create an estate plan to protect your loved ones or make changes to reflect your current situation, our experienced Tampa estate planning lawyer is here to help. Common estate planning documents to consider include:
- A will: Your will acts as a guide through Hillsborough County Probate Court proceedings. It details all property and assets you possess and how you want it distributed among loved ones.
- A trust: Transferring assets into a trust allows you to make more specific distributions and can help offset long-term care costs.
- Advance directives: These convey your wishes pertaining to emergency medical care if you are incapacitated, sparing your family from having to guess what you might have wanted.
Consult Our Tampa Estate Planning Lawyer Today
Estate planning helps protect you and your family against unexpected events. Bubley & Bubley, P.A. provides trusted legal guidance in putting the appropriate documents in place. Give us a call or contact our Tampa estate planning lawyer online to schedule a consultation today.
Sources:
leg.state.fl.us/Statutes./index.cfm?App_mode=Display_Index&Title_Request=XLII#TitleXLII
hillsclerk.com/court-services/probate-guardianship-and-trust
