Making a Will: Information to Consider

Knowing the types of information needed to get started on your will helps you move forward with this important task.

An effective estate plan protects you and your family. A will is an important part of your plan. You can get a head start on your will by gathering information on the following topics to discuss with your attorney:

• Property: When people think about a will, they think about what they own and where they want their wealth and possessions to go. Gather information that details property including deeds, titles, retirement, insurance and savings statements. Include business, partnership and other interests you own. List out possessions that you would like to distribute, whether they are of financial or sentimental value. Taking time to take stock eases preparation of your will.

• Executor (In Florida, we call them Personal Representatives): Your choice of executor or personal representative is important. It is common for an executor to spend significant time settling a will and ensuring liabilities and bequests of the will are paid out. For a complex estate, travel or legal action could be necessary. If you choose a family member or good friend, be sure they are willing to carry out your wishes when the time comes, that they are capable of doing so and that you are sure they will treat all beneficiaries fairly. Do not select them only because they are an eldest child or some other relative.

• Personal information: Identifying information is needed for the people you intend to name in your will. Include the full name of your spouse, parents, siblings, children and grandchildren. If your family includes those not related by blood or marriage, be sure to include the names of each.

• Bequests and gifts: Once you have identified those closest to you, it is important to set forth your wishes regarding distribution of your wealth, property and possessions. Consider naming a secondary beneficiary. It is always possible that a primary beneficiary of an asset could pass away before you do.

Take care of tomorrow — today. Preparing a will helps you look to the future with less fear. When you have questions about your will, or your estate plan in general, speak with our attorneys in Tampa and Sun City.