Signs You Need a Tampa Estate Planning Lawyer
Truthfully, all adults need an estate plan to ensure that their wishes are respected. Although there are many online tools to create your own estate plan, these are often not enough to ensure that your loved ones, property, and wishes are protected. When working with a Tampa estate planning lawyer, however, you can have the peace of mind that there are safeguards in place and that the courts will enforce your wishes. Below are some of the top signs that you need a lawyer to help you draft your plan.
You Have Been Married More Than Once
Marriage brings a lot of joy and celebration, but it also brings many financial and legal issues. The latter is particularly true when one or both spouses have had previous marriages. When either spouse has children, issues such as inheritance and succession can become much more complex. For example, if you have remarried you may want to ensure that your new spouse and that children from a previous marriage are all cared for. An estate planning lawyer can advise you of your options, such as a Qualified Terminable Interest Property (QTIP) trust, that can ensure your property is distributed according to your wishes.
You Have Minor Children
If you have minor children, establishing an estate plan becomes even more important. A proper estate plan can address the following:
- Guardianship: A will allows you to name a guardian for your children. Without this designation, the courts will ultimately decide who to name as guardian, and it may not be an individual you would have chosen.
- Equal distribution: If you have multiple children, you may want to ensure that they receive equal inheritances. This is not always straightforward due to withdrawal penalties, fees, and other factors that deplete certain types of assets. A lawyer can advise you of the strategies to ensure children are treated equally in your plan.
- Inheritance protection: Some children are simply not ready to inherit an estate. A lawyer can advise you of options that protect your child’s inheritance from civil judgments, creditor claims, and unwise spending habits.
You Own Valuable Assets
If you own valuable assets such as a boat, an expensive collection, jewelry, real estate, or other valuables, it is critical that you draft an estate plan. If you do not, these assets will have to pass through probate, which can leave them open to creditor claims, probate expenses, and more. An estate planning lawyer can advise on the strategies that will help these assets avoid probate, meaning they can be distributed in entirety to your beneficiaries.
Our Estate Planning Lawyer in Tampa Can Draft Your Plan
If you have thought about planning your estate, it is critical that you speak to a Tampa estate planning lawyer. At Messina Law Group, P.A., our experienced attorney can review your goals with you, advise on the legal tools that can help you achieve them, and ensure that you and your family are protected. Call us today at (813) 492-7798 or contact us online to schedule a consultation and to learn more about how we can help.
Sources:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/0733ContentsIndex.html
