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Estate Planning Tasks For 2023


A new year offers a fresh start, giving you the chance to set new goals that can help to improve your life. While working out, losing weight, and saving money often top the list, there are some other areas of your life it is important to address.

Estate planning involves taking action now to protect your current assets, your future financial security, and the well-being of your loved one in years to come. The following are five important tasks our Tampa estate planning lawyer recommends including among your new year goals.

  1. Create A Will

Regardless of your age, your current health, or the amount of property and assets you own, it is important to have a legally valid and updated will in place. This legal document details everything you own, designated beneficiaries and conveys your final wishes in the event of your passing.

According to Gallup polls, close to 50 percent of all adults do not have a will in place. If you have not done so already, take the time to create one now. If you already have a will, ensure it is updated to reflect your current personal and financial situation.

  1. Put Advance Directives In Place

Accidental injuries and unexpected illnesses can happen at any time. Advance directives protect you and your loved ones in this type of serious situation, communicating your wishes in the event you are unable to communicate them yourself.

Having advance directives provides clear instructions for medical providers and prevents your family from being put in the awkward position of having to guess what you would have wanted.

  1. Designate Power Of Attorney

Naming someone you trust as your power of attorney helps ensure your financial and business affairs are handled in the event you are unable to attend to them yourself. It can cover tasks ranging from paying your rent or mortgage to running a business, making investments, or attending to other important matters.

  1. Mark Financial Accounts As ‘Payable Upon Death’

This is one of the simplest ways to protect yourself and your loved ones. By going to your financial institution and filling out a form designating accounts as ‘payable on death’, you can allow a family member to access funds without having to wait for potentially time-consuming probate court proceedings.

  1. Consider The Benefits of A Trust

A trust allows for more detailed distributions among beneficiaries, allowing you to protect young children and special needs loved ones. It provides opportunities to make distributions in different amounts or on special occasions. Trusts also play an important role in Medicaid planning and can help you avoid the high costs of nursing homes or other types of long-term care.

Request A Consultation With Our Tampa Estate Planning Lawyer

To protect yourself, your loved ones, and your assets in 2023, make consulting with our Tampa estate planning lawyers one of your new year’s resolutions.  With decades of combined experience, you can count on Bubley & Bubley, P.A. to provide the trusted legal guidance you need in completing important estate planning tasks. Call or contact our office online today.




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Bubley & Bubley, P.A. is located in Tampa, FL and serves clients in and around Brandon, Odessa, Tampa, Oldsmar, Land O Lakes, Thonotosassa, Valrico, Wesley Chapel, Lutz, St Petersburg, Plant City & Brooksville, Safety Harbor, Holiday, Trilby, Crystal Beach, Ozona, Apollo Beach, New Port Richey, Clearwater, Tarpon Springs, Port Richey, San Antonio, Spring Hill, Lithia, Pasco County and Pinellas County.

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